New fixed rate from Leeds

With effect from Thursday 28th August, the rate on the 5 year fixed rate will be cut from 5.99 per cent to 5.84 per cent. The completion fee will be reduced from £1499 to £999. As well as these cuts, the product comes with no higher lending charge and 10 per cent capital repayments are allowed each year without penalty. The deal is available up to 80 per cent loan to value. Karen Wint, general manager marketing and customer services said, "We are delighted to be able to pass on to our customers a reduced headline rate and completion fee. This new five year fixed rate mortgage is simple, straightforward and offers outstanding value with excellent peace of mind. It provides the opportunity to lock in at a fixed rate for the medium to long term in a very uncertain market. "The opportunity to reduce the cost of the biggest household monthly outgoing will be welcomed. This, combined with the flexibility of 10 per cent capital repayments each year without penalty, should prove popular with households looking to control their expenditure in the current difficult financial climate."

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