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Leeds & Holbeck launches flexi-capped mortgage

Leeds & Holbeck Building Society is launching a hybrid flexible mortgage capped at 6.39 per cent for three years.

The loan, which has a 1.4 per cent discount for the first six months, gives an initial interest rate of 4.99 per cent before switching to the capped rate until November 2004.

After the special period, the mortgage reverts to the society’s variable rate of 6.59 per cent. Borrowers can make unlimited capital repayments and pay no redemption penalty at any stage.

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