Leeds launches interest-only fixes

Products incur fees of £199, while customers can also take advantage of free standard valuations up to £335 and fee assisted legal services for standard remortgages.

Customers can make 10% capital repayments per year without penalty.

The society has also launched a 2-year discount rate of 2.30% to 50% LTV, while the product is similarly fee assisted.

Martin Richardson, Leeds Building Society’s general manager – business development, said: “Our new range of products is designed to support homebuyers and remortgagors looking to borrow on an Interest-only basis and supports under-served customers in this market, who use ‘sale of property’ as their intended repayment vehicle.

“We already offer interest-only up to 50% LTV, accepting various repayment vehicles. However, not all interest-only mortgage providers accept Sale of Property as a repayment vehicle.

“We've reviewed our range of competitive two and five year deals to offer borrowers an additional range of benefits including low fees, free valuations and fees assisted legal services.

“These offers provide a fantastic opportunity for those customers who wish to lock into the certainty of low fixed repayments. This is combined with the flexibility of 10% capital repayments each year at a very affordable rate.”