Leeds launches fixed-rate mortgages

Leeds Building Society has announced the launch of a range of three, five and 10-year fixed-rate mortgages.

The three-year product is available at up to 75 per cent loan-to-value and carries a 5.65 per cent interest rate.

Customers interested in the five-year product can get the same LTV rate but will pay 5.64 per cent interest.

The ten-year fixed-rate product is available at 5.59 per cent and can be taken out for up to 90 per cent loan-to-value.

Karen Wint, head of marketing and PR at Leeds Building Society, said the mortgages offer "certainty of mortgage repayments at a rate that is below bank base".

"We have designed these products specifically to provide the peace of mind associated with fixed payments at an affordable rate over a period to suit each customer," she added.

Yesterday, a report released by Birmingham Midshires concluded that mortgage borrowers should shop around to get the best deal for them as the traditional family unit - and thus the traditional mortgage - is on the wane.

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