16
Dec
New mortgage launched for low monthly payments
A new mortgage product has been launched for people looking to buy
houses for sale in the UK, which will give them the benefit of low
monthly payments.
Leeds Building Society has released its two-year mortgage at a rate
of 2.54 per cent available on products with a loan-to-value (LTV)
of 70 per cent.
The mortgage also allows homeowners to pay ten per cent in capital
repayments every year without a penalty fee.
Martin Richardson, general manager of marketing and business
development at the financier, said: "The very low interest rate
will appeal to customers with larger loan sizes due to the benefit
it will have on their monthly mortgage payments."
This comes just ten days after Leeds Building Society launched a
three-year fixed-rate mortgage at 3.45 per cent on products on of
75 per cent LTV, 3.89 per cent on loans of 80 per cent LTV and 5.29
per cent on mortgages of 85 per cent LTV.