Leeds launches new offset mortgages

Phil Coombes, head of intermediary sales, said: "We have looked at this range carefully and, following intermediary feedback, delivered some market-leading mortgages.

"These include fee assisted offset options that provide peace of mind over a 2-year period.

"Offsetting can save clients interest on their mortgage, enabling them to pay it off quicker and provide a higher tax efficient equivalent savings rate compared to a normal investment product.

"Savings are also kept in a completely separate account, so there is no need for a fundamental re-organisation of finances, and clients have unlimited access to them at any time, providing outstanding flexibility and excellent peace of mind."

The range starts at only 3.64%, offers mortgages up to 80% LTV and there is no higher lending charge. At this rate the savings are earning the equivalent of 6.07% and 4.55% for borrowers who pay 40% and 20% tax respectively. There are also fee assisted options, which also benefit from a free valuation, free in-house legal services for remortgages and no completion fee.

Coombes added: "These offset fixed rates will prove popular with those clients who wish to maintain complete flexibility with their savings, require help with up front costs and require peace of mind."