Leeds building society offers cheapest five year mortgage on the market
The Leeds building society is offering the cheapest five-year fixed-rate mortgage on the market at 3.94%. While the 3.94% rate is only available to customers buying property and contents insurance from the building society, and only available for mortgages with a 60% loan to value ratio, it is the cheapest on the market at the moment. Those who do not wish to take out their contents insurance with the society will be quoted a figure of 4.18% which is also very competitive.
There are also a number of other relatively cheap mortgage arrangements on the market at the moment with HSBC offering a similar five-year rate of 3.95%, which is again available on mortgages with a 60% loan to value ratio, although this one does attract a lesser fee of £599 against the Leeds building society fee £999.
While there's no doubt that the UK mortgage arena is nowhere near as competitive as it has been in the past there is also no doubt that if you do shop around, and can put down a significant deposit, there may well be deals out there to suit your situation. However, as with any financial arrangement you should take professional financial advice before committing yourself to any transaction.
Share this..
Related stories
UK mortgage lending fell 30% in 2008
The Council of Mortgage Lenders (CML) has today revealed that mortgage lending in 2008 fell by 30% compared to 2007. As if this was not worrying enough the CML is suggesting that mortgage lending will continue to fall from the next six months to hit record lows. While the total fall across the calendar year was 30%, the trend would seem to be downwards with a 47% downturn in December 2008 alone co...
Read MoreCould UK mortgage rates really hit 14% within two years?
As a consequence of a Think Tank forecast that UK base rates could rise to 8% over next two years, after the UK finally exits a potential double dip recession, there is the possibility that UK mortgage rates could rise to between 12% and 14%. This would be a crippling rise for the UK property market and could potentially push the UK back into a downward economic spiral. There is no doubt that even...
Read MoreHow to get the best mortgage deals
While the UK mortgage market is by no means as competitive as it has been in the past there is no doubt that if you shop around you will improve your chances of being successful. However, there are a number of factors which many people seem to ignore when looking to grab the best deals in the UK mortgage market. So how can you improve your chances? One issue which should be top of your agenda w...
Read MoreNationwide confirms merger with smaller competitors
In a move which we flagged just yesterday it has been announced that the Nationwide Building Society will be taking control of the Derbyshire and Cheshire building societies after the two smaller rivals hit financial trouble. As this is in affect a bail out of the two societies, whose financial security was in doubt, Nationwide will not be instigating windfall payments to the members concerned....
Read MoreOne in five sub-prime mortgage holders are struggling
A survey by the housing charity Shelter has revealed that one in five sub-prime mortgage holders are struggling to keep their payments up to date with a significant 5% (37,000 borrowers) expecting to have their homes repossessed over the next six months. However, it was also revealed that up to one third of the 260,000 sub-prime mortgage holders questioned expect to fall behind with their payments...
Read More