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Law of averages for Leeds fixed rate


Five Year Fixed Rate

Type: Five year fixed rate

Fixed term: Five years

Fixed rate: 4.79%

Minimum loan: 25,000

Maximum loan: Up to 95% of valuation subject to a maximum of 200,000, up to 90% of valuation subject to a maximum of 300,000, up to 85% of valuation subject to a maximum of 400,000, up to 80% of valuation subject to a maximum of 500,000

Income multiples: Up to 95% of valuation – up to 3.5 times principal income plus second or 2.75 times joint, up to 90% of valuation – up to 3.75 times principal income plus second or three times joint, up to 80% of valuation – up to four times principal income plus second or 3.25 times joint, up to 75% of valuation – 4.25 times principal income plus second or 3.5 times joint

Conditions: Capital repayments of up to 10 per cent allowed without penalty, free mortgage payment protection insurance for six months

Arrangement fee: 695

Redemption fee: 5% of amount repaid in years one and two, 4% in year three, 3% in year four, 2% in year five

Introducers fee: Refer to lender

Tel: 01543 418104

Leeds & Holbecks latest five-year fixed rate mortgage is available for loans up to 95 per cent of valuation at the rate of 4.79 per cent.

John Charcol mortgage development manager Elliot Nathan sees this deal as a fairly priced five-year fixed rate. He likes the facility to make overpayments of up to 10 per cent a year penalty-free.

When asked what he dislikes about the mortgage, Nathan says: “The completion fee of 695 is rather high for a five-year fix. The fixed rate could also have been priced more competitively bearing in mind the high completion fee.”

Considering which lenders will compete with this product Nathan says: “There are around 10 better priced products from lenders such as Alliance & Leicester, Portman, Nationwide, Chelsea, Yorkshire Building Society, Britannia, Scarborough Building Society and Accord.”


Suitability to market: Average
Competitiveness of rate: Average
Adviser remuneration: Average

Overall 4/10


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