Leeds Building Society announced today it has a new best buy fixed rate mortgage from its five-year product range.
The five-year mortgage with a fixed rate of 2.99 per cent is available up to 80 per cent loan-to-value (LTV) and comes with a £199 fee.
The deal offers free standard valuation on properties worth up to £500,000, and fees assisted legal services for standard remortgages.
Up to 10 per cent penalty free capital repayments are allowed each year.
Martin Richardson, the society’s general manager of business development, commented:
“In addition to the best buy rate, the incentives package makes this deal particularly attractive for borrowers wanting to minimise the cost of taking out a new mortgage or switching from their existing product to a more competitive rate which could bring down their monthly repayments.
“With mortgage rates so low right now, more borrowers are prepared to consider a five year fix where previously they might have favoured a shorter term.
“The low fee package on this five year deal also offers remortgagors the opportunity to lock in to a lower rate than they have at present with minimal charges up-front.”
