Leeds launches new lifetime tracker mortgage

The Leeds Building Society has launched a new lifetime tracker mortgage, which will track at 0.25 per cent above the Bank of England base rate – currently 4.75 per cent – for the term of the deal.

Available at up to 75 per cent loan-to-value (LTV) the product does not have a higher lending charge or early repayment charges.

It does, however, have a completion fee of £399 up to £500,000 and fees for mortgages over this amount will be confirmed through negotiation only.

A fee-free lifetime tracker option is also available with Leeds, with a tracker rate of 0.75 per cent above the base rate.

Commenting on the new mortgage option, Karen Wint, head of marketing and PR at Leeds, said: “The functionality, combined with an extremely competitive product, offers customers a superb combination of excellent value and outstanding service and we expect this product to be extremely popular.”

Unlimited capital repayments are allowed on both forms of the Leeds lifetime tracker mortgage, which is available exclusively online.