LBS launches 5.1% five-year mortgage

Leeds Building Society (LBS) has launched a new five-year fixed-rate mortgage at 5.1%.

Available at a loan-to-value (LTV) of up to 75%, the mortgage deal has no higher lending charge.

Borrowers can repay up to 10% of capital each year without penalty, and free in-house legal services are provided for customers re-mortgaging.

An LTV of up to 85% is available on the mortgage at the slightly higher interest rate of 5.6%.

Both mortgages come with a £199 booking fee and early repayment charges.

Kim Rebecchi, Leeds director of sales and marketing, said the mortgage provided a ‘fantastic opportunity’ for homeowners looking for the security of a fixed-rate deal.

“In these uncertain times, with historically low interest rates, we are seeing an increase in the number of customers looking to fix,” said Kim Rebecchi, Leeds director of sales and marketing.

“Therefore, we know that many more mortgage holders will welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage customers who may be coming to the end of their current deal.

“Market rates are ticking up and we have seen increased coverage in the media relating to fixed rate mortgages increasing.

“However, good value fixed rates are still available up to 85% loan to value.”

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