Glasgow, UK, December 22, 2011 — In news sure to delight first time buyers, Leeds Building Society is making a return to the high value loan to value (LTV) mortgages market. At the moment, the only other lenders offering this level of LTV are Saffron Building Society and Skipton Building Society.
The new mortgage from Leeds is a five year fixed rate loan, with an interest rate of 5.99% (including a 2.4% discount for taking Leeds’ own home insurance). Arrangement fees are 999, and a fees assisted version which rolls the arrangement into the loan is also available.
It is cheaper to buy a home than rent in 47 of the UK’s 50 biggest towns, but obtaining mortgages is still too difficult for first time buyers as they struggle to save the sizable deposit required by most banks and building societies. Leeds have also announced a zero-deposit mortgage for those part-purchasing properties from registered housing associations on new build developments and renovated homes. On these deals, the purchase share varies from 24% to 75%.
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