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.