Leeds launches 2yr discount mortgage

Leeds Building Society has released a new two-year mortgage product which may interest borrowers looking for the best mortgage rates.

The new market-leading two-year discount mortgage is available at 2.54 per cent for borrowers putting down a 30 per cent deposit.

Leeds' new product also comes with the flexibility of ten per cent capital repayments each year with no higher lending charge.

Martin Richardson, Leeds Building Society's general manager marketing and business development, said: "We expect this impressive new product to be popular due to the combination of both a low interest rate and a flat completion fee."

He added that the low interest rates will particularly appeal to consumers with a high loan value as their mortgage repayments will reduce.

Leeds recently announced a three-year mortgage offering a rate of 3.45 per cent up to 75 per cent loan-to-value LTV and also allows borrowers the flexibility of ten per cent capital repayments each year without a higher lending charge.
 

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2010-12-16 13:00:44 © Moneyextra.com