On the residential side, it has launched a three-year fixed rate mortgage at 5.69 per cent, with no higher lending charge and 10 per cent capital repayments are allowed each year without penalty.
Jeff Kirk, corporate relationship manager at Leeds, said: "With the Bank of England’s decision to increase Base Rate by 0.25 per cent earlier this month, pushing the rate up to 5.75 per cent, a three-year fixed at 5.69 per cent will be extremely attractive to many borrowers. Furthermore, with commentators predicting at least one further rise later this year and market rates well over 6.00 per cent, borrowers currently on a variable rate mortgage look almost certain to be hit with another increase in their monthly mortgage payment.
"With this in mind we have launched this excellent three-year fixed, offering complete peace of mind and full protection against any rate increase. The completion fee is 2.00 per cent of the loan amount and can be added to the mortgage. We have also launched a fee free version for clients who require help with other costs including completion fee, valuation fee and legal fees on remortgages.
"There is also no higher lending charge and 10 per cent capital repayments are allowed each year without penalty, which provides excellent flexibility."
It has launched a three-year fixed rate buy-to-let mortgage product at 5.89 per cent, which is specifically designed to suit the needs of landlords looking for a competitive fixed rate and to protect themselves against any future rises in interest rates.
The product is available up to 80 per cent loan-to-value, there is no higher lending charge and 10 per cent capital repayments are allowed each year without penalty. Furthermore, there is a fee free version for landlords who prefer to minimise up front costs.
Kirk added: "These new buy-to-let options are competitive and offer the flexibility of being able to pay off 10 per cent of the capital without penalty. They also allow landlords to lock-in value and provide certainty of payments, which will be of particular benefit if the widely predicted increase in bank base rate takes place.
"The completion fee is 2.00 per cent of the loan amount and can be added to the mortgage. We have also launched a fee free version for clients who require help with other costs including completion fee, valuation fee and legal fees on remortgages.
"We will also look at earned income in addition to rental income when assessing applications, giving landlords greater flexibility. This facility enhances the amount that can be borrowed where the rental yield does not cover 130 per cent of the mortgage payment."
