Rate cut for 'outstanding' mortgage | Product News - Moneyfacts

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Rate cut for 'outstanding' mortgage

Rate cut for 'outstanding' mortgage

Category: Mortgages
Date: 24/02/2016

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 It is now over 6 months old so the content may be out of date.

Leeds Building Society has reduced the rate of its three-year fixed mortgage by a significant 0.20%, catapulting it into the charts and earning it the highest rating in the process.

The basics…

This mortgage now has an attractive rate of 2.39% fixed until 30.6.19, which has enabled it to elbow aside its competitors and claim a place in the charts. It is available at a loan-to-value (LTV) of 85% and has a low fee of £199.

The finer details…

This mortgage is offered to house purchase customers and remortgagors with a deposit of 15%, all of whom can take advantage of a generous incentive package of free valuation (max £999). Those looking to remortgage can also benefit from help towards costs.

In addition, borrowers can make overpayments of up to 10% of the outstanding balance and take lump sum withdrawals, provided certain conditions are met.

Why we like it…

The rate cut to this deal has sharpened its competitiveness, something that is bound to be noticed by borrowers. The fact that it also has a low fee and a generous incentive package further sweetens the deal, as do the flexible repayment options. This is an outstanding product that 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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