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22nd November 2011 For Immediate Release
Leeds slashes 10-year fixed to market leading rate
Leeds Building Society has reduced the rate on its 10 year fixed rate mortgage by 1% to a market leading 4.99%. Furthermore, this rate is available up to 80% LTV, there is no higher lending charge and 10% capital repayments are allowed each year, without penalty.
Kim Rebecchi, Sales & Marketing Director at Leeds Building Society said, "This product speaks for itself and delivers peace of mind and security, over a large part of a typical mortgage life, at an affordable rate. To lock in at only 4.99% for 10 years is simply excellent value and the mortgage is fully portable, so should a borrower move home they can take this product with them, providing even further flexibility."
Louise Holmes, spokesperson for Moneyfacts said,"The 10 year deal has been reduced by 1.00% to 4.99% and is now available to direct business as well as via intermediaries. For borrowers looking for an 80% mortgage, this is the lowest rate in this limited sector at this loan-to-value."
Kim added, "This product will prove extremely popular with customers who are seeking the security of guaranteeing their mortgage payments for the long term."
For more information, customers can call into their local branch, apply online at www.leedsbuildingsociety.co.uk. Alternatively call the Society’s mortgage hotline, on 08450 540 994, where qualified mortgage advisors are available 7 days a week from 8am to 8pm.
Ends
Notes to Editors
Key Features
10 Year Fixed Rate – Available up to 80% loan to value
- 4.99% fixed up to and including 28 February 2022
- Available up to 80% loan to value
- No Higher Lending Charge
- £199 Booking Fee
- £800 Completion Fee up to £500,000
- 10% capital repayments are allowed each year without penalty
- Tapered early repayment charges of 6% of the amount redeemed in years 1 and 2, 5% in years 3 to 6, 4% in years 7 and 8, 3% in year 9 and 2 % in year 10
Leeds Building Society has assets of £9.5bn (as at 31 December 2010) and 67 branches throughout the UK, Gibraltar and Ireland. The Society has operated from the centre of Leeds since 1886.