Leeds launches 5 year fixed rate mortgage at 5.84%

Leeds Building Society is offering customers the double bonus of a reduced headline rate and completion fee on its 5-year fixed rate mortgage.

With effect from Thursday 28th August, the rate on the 5 year fixed rate will be cut from 5.99% to 5.84%. The completion fee will be reduced from £1499 to £999. As well as these cuts, the product comes with no higher lending charge and 10% capital repayments are allowed each year without penalty. The deal is available up to 80% loan to value.

Karen Wint, General Manager Marketing & Customer Services said, "We are delighted to be able to pass on to our customers a reduced headline rate and completion fee. This new 5 Year Fixed Rate mortgage is simple, straightforward and offers outstanding value with excellent peace of mind. It provides the opportunity to lock in at a fixed rate for the medium to long term in a very uncertain market.

"The opportunity to reduce the cost of the biggest household monthly outgoing will be welcomed. This, combined with the flexibility of 10% capital repayments each year without penalty, should prove popular with households looking to control their expenditure in the current difficult financial climate."