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Leeds BS launches two interest-only mortgages

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  • 18/11/2014
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Leeds Building Society has introduced two and five year fixed-rate deals aimed at the interest-only market.

Available up to 50% loan to value (LTV) at rates of 2.49% and 3.19% respectively they come with free standard valuations up to £335. Standard remortgages come with fees assisted legal services with all offers carrying a fee of £199.

The Society is also launching a fee assisted two year discount rate deal up to 50% LTV, at a current rate of 2.30%.

Martin Richardson, Leeds Building Society general manager – business development said: “Our new range of products is designed to support homebuyers and remortgagors looking to borrow on an interest only basis and supports under-served customers in this market, who use ‘Sale of Property’ as their intended repayment vehicle.”

In May this year, David Copland director of LSL mortgage services wrote on Mortgage Solutions that reforms in pensions could have an effect on the mortgage market including a resurgence in interest-only mortgages.

 

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