Leeds launches 5.75% five-year mortgage

Leeds Building Society has launched a new five-year fixed rate mortgage with an interest rate of 5.75%.

The mortgage is available to homeowners with a deposit of at least 15%.

Borrowers can make up to 10% capital repayments every year without penalty.

Homeowners with a larger deposit can also take advantage of the mortgage, and will benefit from an interest rate of 5.25%.

Kim Rebecchi, Leeds director of sales and marketing, said the mortgage is ideal for borrowers with a smaller deposit.

“In these uncertain times, with historically low interest rates, we are seeing an increase in the number of customers looking to fix,” he added.

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