New mortgage rates launched by Leeds

Leeds Building Society has launched a new two-year fixed-rate mortgage offering a rate of 3.45 per cent.

The deal – which is available at up to 60 per cent loan-to-value LTV - has no higher lending charge, while ten per cent capital repayments are allowed each year without penalty.

Other versions of the offer exist at 3.75 per cent for 75 per cent LTV, 4.65 per cent at 80 per cent LTV and 5.45 per cent at up to 85 per cent LTV.

Kim Rebecchi, Leeds Building Society's sales and marketing director, said the deals offer "a fantastic opportunity" for those borrowers who "wish to lock into the certainty of low fixed repayments".

She added: "The product provides customers with peace of mind and the security that their monthly payments will remain the same for two years, combined with the flexibility of ten per cent capital repayments each year at a very affordable rate."

Leeds Building Society is not the only lender to claim the availability of cheap mortgage rates this week, with Santander and Yorkshire Building Society among the other firms launching new deals.

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2010-02-04 12:57:17 © Moneyextra.com