Mortgages  

Leeds becomes latest to launch five-year fee-free deal

Leeds becomes latest to launch five-year fee-free deal

Leeds Building Society has launched a new five-year fixed rate deal for remortgagers, priced at 3.34 per cent up to 85 per cent loan-to-value, with no product fee.

The deal also includes a free valuation for properties worth up to £500,000 and fees assisted legal services.

Martin Richardson, the society’s general manager for business development, said: “We’ve experienced strong and growing demand in the past couple of months from remortgagers who are taking the opportunity to switch to a better deal.

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“With the base rate potentially staying at its historic low for longer than recent speculation has indicated, a longer-term fix at a competitive rate is an attractive option for borrowers wanting security of payments for what’s likely to be their largest monthly outgoing.

Leeds’ deal comes after Accord mortgages launched fee-free two-year tracker options for landlords looking to remortgage, with a choice of free standard valuation and legal fees, or £300 cashback and free standard valuation at 2.49 per cent for 60 per cent LTV or 2.74 per cent for 65 per cent LTV.

To learn more about this type of home loan, and earn CPD, read FTAdviser’s Guide to Fee-free mortgages.

peter.walker@ft.com