Leek United launches interest-only fix

Leek United launches interest-only fix

Leek United Building Society has launched a range of fixed rate products, with a focus on interest-only mortgages.

The lender now offers an interest-only two-year fixed rate mortgage at 2.30 per cent up to 75 per cent loan-to-value (LTV) and no fees, or at a rate of 1.99 per cent with a fee.

Borrowers can also access additional cashback options, with two-year and five-year fixed rate mortgages available up to 95 per cent maximum LTV no fee and £500 cashback.

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In the buy-to-let space Leek now offers an interest-only product with an initial rate of 1.84 per cent for the first two years, up to 65 per cent LTV and with a £199 fee. 

Lisa Buckley, head of marketing and mortgage sales at Leek United, said: "We have listened to our broker partners and their desire to write more business with us which is very important to the intermediary team.

"We’ve been highly responsive to the needs of brokers and I’m sure the new fixed rate interest-only product will prove to be a hit."

She added: "We’re delighted to have had so much positive feedback from our introducers and look forward to helping them develop more business as we continue to provide a first class service and exciting new products."