by Peter Jacobs
A new deal has been launched by the Leeds Building Society today for various 3 year fixed rate deals at different loan to value (LTV) levels. The new deals are at reasonably competitive rates from the Leeds Building Society and are for borrows with a 30% or 20% deposit under their home credit mortgage product category. These new mortgages are also fully portable to a new property if you move within the term of the loan and home owners can pay back up to 10% of the loan value each year without any penalty. With these deals there is also no higher lending charge.
Leeds Home Credit 3 Year Fixed Mortgage at a Glance
Here are the rates and terms for this new product :
This best buy product allows customers to fix their rates in terms of uncertainty and Kim Rebecci sales and marketing director at the Leeds Building Society has mentioned the first indication that interest rates may rise in the coming months. She said that interest rates could not say at the current historic levels for much longer and in fact one person from the Bank of England monetary committee, Andrew Sentance actually voted for an interest rate increase which is the first for many, many months.
She also added that “This best buy product is a fantastic opportunity for those borrowers who wish to take away any uncertainty, on what is usually a household’s biggest monthly outgoing, and lock into low fixed repayments.”
The great part about this deal apart from market leading low rates on a 3 year fixed product is that you can over pay the mortgage each year by 10% and not receive any penalty for doing so. Add to this that the product is portable if you happen to move home in the 3 year term again without penalty makes it one of the most flexible products in the market place as well. The 75% LTV also sees a reasonably low deposit required although the maximum LTV of 80% is still historically low for this type of mortgage.
Applying for this new 3 year fixed rate deal
If you would like full information and terms of this 3 year fixed rate deal from the Leeds Building Society you can speak directly with people from the Leeds, visit their website for this and other products or contact your independent financial adviser who can provide information on this and other products to find the best loan for your own circumstances. You should always seek professional advice when taking out any type of mortgage loan in the UK market place.
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