Leeds Building Society has announced the launch of a new two-year fixed rate mortgage.
The interest rate on the mortgage is 4.75 per cent. Unlimited capital repayments are permitted at any time with no penalties.
Stuart Fearn, product development manager at Leeds Building Society, said: “Continuing consumer uncertainty surrounding the impact of the future base rate changes mean that short term fixes are very popular.
“There is no higher lending charge up to 90 per cent loan value and the product is fully portable.”
Leeds Building Society are also offering a two-year fee free mortgage option with an interest rate of 5.25 per cent which offers, among other benefits, free in-house legal services for remortgages.
Fixed mortgages are increasingly popular, accounting for 54 per cent of loans for the month of August, according to figures released by the Council of Mortgage Lenders.
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