This includes a new product with a fixed rate of 3.49% until 1 January 2005, after which it then tracks the Bank of England Base Rate for a further two years.
Highlights of the fixed/tracker mortgage include:
- Fixed at 3.49% until 1 January 2005 then Bank Base Rate plus 0.49% until 1 January 2007.
- Available up to 95% loan to value with no higher lending fee up to 90%
- Completion fee of £199
The new range also includes a fee-free tracker mortgage, which tracks the Bank of England Base Rate plus 0.24% (current rate 3.74%) up to 90% loan to value until 1 December 2006. This product, (which is also available up to 95% at a current rate of 4.24%), includes a free valuation, free in-house legal services and no completion or higher lending fee (M.I.G.).
Commenting on the new range, Jeff Kirk, Corporate Relationship Manager said, "Given today's historically low Base Rate, the fixed/tracker represents good value. Many commentators are predicting that interest rates will remain relatively low for some time, which means that after the fixed rate period, the rate should remain competitive for your clients. Leeds and Holbeck is committed to the intermediary market and this range has something for all."
For details of the nearest development manager, mortgage introducers should contact the Leeds & Holbeck intermediary sales office on 0121 643 6741.
