Host of new mortgages from UK lenders

Posted: 27 Sep 2006 10:23:07 GMT


            Property News - Host of new mortgages from UK lenders

A number of UK lenders have released details of new products this week.

A number of UK lenders have released details of new products this week.

Leeds Building Society has unveiled a new five-year fixed rate mortgage at 4.99 per cent, which it claims is a market leader.

The new home loan allows for ten per cent capital repayments each year without penalty and a fee free five-year fixed rate product offer 5.49 per cent.

Many Britons are currently looking for new fixed home loans ahead of a predicted rise in interest rates from 4.75 per cent to five per cent expected this November.

Meanwhile, Alliance & Leicester has reduced its fixed rates and introduced a new two year base rate tracker mortgage at Bank of England Base Rate minus 0.26 per cent.

The building society's two year fixed rate product offers an interest rate of 4.64 per cent until October 31st 2008, while its five year fixed rate is set at 5.09 per cent a year.

A new buy-to-let range from Leeds Building Society provides landlords with a host of new options, including a new five year buy-to-let home loan offering a competitive fixed rate, flexibility and fee free options for those planning to remortgage their portfolio.

The mortgage provides a rate of 5.24 per cent, which the lender claims is market leading, with a rate of 5.84 per cent for the fee free version. Both products offers the flexibility of paying off up to ten per cent of the capital without penalty.

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