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Leeds launches market leading offset mortgages

13th May 2010 Print

Leeds Building Society has launched a range of 2-year fixed rate offset mortgages, from only 3.40%, that includes a number of market leading products. Furthermore there are also fee assisted options for those customers who prefer help with up front costs.

Paul Kaye, General Manager Sales said, "We have looked at this range carefully and, following customer feedback, delivered some market-leading mortgages. These include fee assisted offset options that provide peace of mind over a 2-year period.

"Offsetting can save customers interest on their mortgage, enabling them to pay it off quicker and provide a higher tax efficient equivalent savings rate compared to a normal investment product. Savings are also kept in a completely separate account, so there is no need for a fundamental re-organisation of finances, and customers have unlimited access to them at any time, providing outstanding flexibility and excellent peace of mind."

The range starts at only 3.40%, offers mortgages up to 80% loan to value and there is no higher lending charge. Even at such a low rate, the savings are earning the equivalent of 5.67% and 4.25% for borrowers who pay 40% and 20% tax respectively. There are also fee assisted options, which also benefit from a free valuation, free in-house legal services for remortgages and no completion fee.

Paul added, "These offset fixed rates will prove popular with those customers who wish to maintain complete flexibility with their savings, require help with up front costs and require peace of mind."