Leeds Building Society launches new Lifetime Tracker mortgage

Leeds Building Society has launched a new Lifetime Tracker mortgage with enhanced income multiples, which is available up to 95% loan to value and there is no higher lending charge.

Furthermore, there is a free standard valuation and no completion fee.

Karen Wint, Head of Marketing & PR said, "We have designed this product with enhanced multiples of up to five times income and made it available up to 95% loan to value. There are also no fees to pay at all.

"With house prices still rising, this mortgage will help more customers who have a smaller deposit or limited equity get the property they are looking for. First time buyers will clearly benefit from this fee free product and in particular, the ability to secure 95% loan to value without having to pay a higher lending charge.

"I would expect this to be popular with young professionals, who at this stage require a slightly higher income multiple, but expect their salaries to increase significantly after qualification in their chosen field.

"A lifetime tracker product with a current rate of 6.25% is competitive for a product with these features and customers will need an excellent credit record to benefit from these enhanced multiples. I expect this to suit a number of individual circumstances."