A two-year and 10-year rate have been launched, each with no higher lending charge. The two-year fix has a rate of 4.99 per cent and unlimited capital repayments without penalty, while the 10-year deal is priced at 5.90 per cent and is available up to 90 per cent loan-to-value and 10 per cent capital repayments are allowed each year without penalty.
Both mortgages have been launched following the recent Base Rate rise with favourable rates added to encourage Remortgagers and first time buyers.
On the two-year rate, Jeff Kirk, corporate relationship manager at Leeds BS, said: “We have launched this two-year fix at only 4.99 per cent, offering peace of mind and protection against any rate increase. The completion fee is 3.25 per cent of the loan amount and can be added to the mortgage, so the client has no upfront fees to find, which is ideal for those who are seeking to minimise their repayments for a short period.”
Karen Wint, head of marketing and PR at Leeds BS said: “The 10-year fix is portable, so if clients do wish to move during the term, they can take this product with them. There is a fee-free version available for those looking to minimise upfront costs.”
Mike Pendergast, IFA at Zen Financial Services, said: “These are good rates but are more for large loans as the two-year fix has the largest completion fee I’ve ever seen.”
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