Leeds Building Society comes into being on 12 September when Leeds & Holbeck changes its name, however, the new capped tracker mortgage is available immediately. The current fee free base rate tracker mortgages will continue to be available.
Product Features
Base Rate Tracker plus 0.25% and Capped at 4.75%
- Base rate tracker plus 0.25 % (currently 4.75%) until 1 December2008
- Capped at 4.75%
- Available up to 75%
- No higher lending charge
- Minimum loan amount of £100,000
- Fully portable if borrowers move during the fixed rate period
- Free mortgage payment protection for 6 months
- Tapered early repayment charges of 4% of the amount redeemed in year 1, 3% in year 2 and 2% in year 3
- £695 completion fee
Jeff Kirk, Corporate Relationship Manager said, "This is the second best buy mortgage from Leeds Building Society which makes it two out of two market-leading products.
"It offers outstanding value giving customers the best of both worlds. They will benefit from any reductions in base rate as this is a tracker mortgage and these will be passed on immediately. They also know that the rate can never exceed 4.75 per cent, so they can budget effectively. We expect this unique combination to be extremely popular."
