Leeds Building Society has launched a 1 year, market leading fixed rate mortgage at 2.99%.

This new market leading fixed rate mortgage is available up to 65% LTV. After the 1 year fixed period, the interest rate reverts to the Bank Base Rate plus 2.99% for a further year.

Kim Rebecchi, Director of Sales & Marketing said, “This product delivers an excellent combination of fixed and tracker rate features. Customers can lock in at only 2.99% for the first year and benefit from a Base Rate tracker for the remaining year, which would reduce to only 3.49% based on today’s rate.”

There’s no higher lending charge and 10% capital repayments are allowed each year without penalty.

There isn’t a completion fee, just a booking fee of £199. Customers don’t have to have any other products with Leeds to qualify for the market leading mortgage.

There is also a version of this mortgage product which tracks the Bank Base Rate for a further 2 years. Again this is available for up to 65% LTV, allows 10% capital repayments a year without any early redemption penalties and doesn’t have a higher lending charge.

Further information is available via Leeds branches, the telephone or online.
©MoneyHighStreet.com Personal Finance