UK Money News
28th December 2007
LBS announces mortgage sale
Leeds Building Society has announced details of a mortgage sale which it claims will make its fixed-rate mortgage product one of the most competitive on the market.
The mortgage is fixed at 5.4 per cent until February 28th 2010 and comes complete with free valuation up to £335 and a £700 discount on the society's standard completion fee.
Customers will be able to borrow up to 80 per cent loan to value, up to a maximum of £250,000.
Karen Wint, Leeds Building Society's general manager of marketing and customer services, said the product would be ideal for people who are keen to remortgage as they approach the end of their current fixed-rate term.
"Clearly, the opportunity to minimise the cost of the biggest monthly outgoing will be welcomed and this sale product provides this," said Ms Wint.
The Royal Institution of Chartered Surveyors recently said that as many as 1.4 million borrowers face the prospect of increased monthly repayments in the coming months as they are due to reach the end of fixed-rate mortgage deals.
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