Leeds launches two-year discounted mortgage

The Leeds Building Society has launched a new mortgage offer with a rate of 4.99 per cent for two years. This 1.75 per cent discount will run up to January 31st 2009.

It is available at up to 95 per cent loan-to-value (LTV), with no higher lending charge up to 90 per cent LTV.

Unlimited capital repayments are allowed at any time without penalty and a £595 completion fee is payable on amounts up to £500,000.

An alternative of this mortgage is available with no higher lending fee up to 90 per cent LTV and no completion fee, with a rate of 5.49 per cent.

Karen Wint, head of marketing and PR at Leeds, said that this package offers “outstanding value” in a market of increasing rates.

“As well as offering competitive products with flexible features, we regularly benchmark our service against the industry,” she added.

“The independent results confirm that Leeds Building Society outperforms its competitors across a range of measures and, in particular, for speed of dealing with enquiries.”