New 5-yr fixed mortgage jumps into the charts | Product News - Moneyfacts

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New 5-yr fixed mortgage jumps into the charts

New 5-yr fixed mortgage jumps into the charts

Category: Mortgages
Date: 18/04/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Leek United Building Society has introduced a five-year fixed mortgage to the market, instantly gaining it a place in the Moneyfacts charts thanks to its attention-grabbing rate and terms.

The basics…

This mortgage has a competitive rate of 2.25% fixed until 31.8.21, the lowest rate for its terms, enabling it to gain a firm footing in the charts. It is available at a loan-to-value (LTV) of 75% and has a fee of £995.

The finer details…

All borrowers with the necessary deposit are welcome to apply for this mortgage. There are no incentives offered, but borrowers can make the most of the opportunity to reduce their balance by making overpayments of up to 10% of the mortgage advance per annum.

Why we like it…

The attractive rate of this mortgage gives it instant appeal and is sure to get it noticed by borrowers with the right deposit. The fact that it also allows some flexibility in terms of repayments further sweetens the overall package and ensures that it fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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