Leeds Building Society launches new fixed-rate mortgages

15-Sep-2006

The new two-year packages are available in both fee-paying and fee-free options, with both potentially attractive to first time buyers because of the ability to repay an unlimited amount of capital at any time, without penalty.

"In a recent poll of 54 economists carried out by Reuters, 40 of the 54 said that the MPC [monetary policy committee] would probably increase the base rate to five per cent in November," said Stuart Fearn, product development manager at Leeds Building Society.

"Many customers may look to guarantee their monthly payments and protect themselves against any rise. This two-year deal also allows unlimited capital repayments at any time, combining flexibility with peace of mind," he added.

The two-year fee-paying mortgage option carries an interest rate of 5.25 per cent, while the fee-free two-year option carries an interest rate of 5.75 per cent.

Both mortgage options are available with a loan-to-value up to 95 per cent.

Leeds Building Society has also launched a ten-year fixed-rate mortgage package, with an interest rate of 4.97 per cent.

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