7 Dec

New mortgage launched to allow flexibility of capital repayments

New mortgage launched to allow flexibility of capital repayments

People looking to secure their finances to buy a house for sale in the UK could benefit from new mortgage products released by Leeds Building Society.

Yesterday (December 6th 2010), the financier announced its new three-year fixed-rate home loan, which enables customers to have flexibility of ten per cent on capital repayments every year.

It comes at a rate of 3.45 per cent and is available on mortgages of up to 75 per cent loan-to-value.

Leeds Building Society's sales and marketing director Kim Rebecchi said these new loans give customers "certainty of payments and peace of mind".

"The three-year term gives people the best of both worlds, as customers have security in the medium-term but avoid being locked in for a long period," she said.

Last month, the financial services provider launched a shared ownership mortgage to assist first-time buyers to get on the property ladder.

It enabled people to have a maximum borrower share of 95 per cent and came at a payback rate of 5.99 per cent. ADNFCR-1222-ID-800275726-ADNFCR

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