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Leeds cuts fees, offers more incentives on fixed mortgage deals

by Vanya Damyanova
May 12, 2015
Beware high mortgage fees masked by low headline rates
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Leeds Building Society is now offering three new fixed-rate products with low fees, free valuation and assisted legal services.

house calculatorThe society has launched two new offers in the two-year fixed range with £199 fee, free standard valuation on properties up to a value of £500,000 and fees assisted legal services for standard remortgages.

The first product is fixed at 2.09 per cent, available up to 75 per cent loan-to-value (LTV) and the second is fixed at 2.19 per cent, available at 80 per cent LTV.

The society also offers a five-year fix at 2.94 per cent, available at 80 per cent LTV. The deal comes with the same fee and free incentives.

All new offers allow 10 per cent overpayments each year without any penalty.

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Martin Richardson, general manager of business development at Leeds comments:

“In addition to a competitive rate, our range includes a choice of fee and incentive combinations so borrowers can have the features which best suit their individual circumstances.

“On larger loan sizes the product with a larger fee can often work out better value but we know many borrowers, particularly first time buyers or remortgagors, will be keen to minimise the upfront costs of their mortgage so a low-fee deal with incentives is exactly what they are looking for.”

Tags: fixed rate mortgages
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