Interest rate:1.50%Gross‡ p.a./AER† (fixed)
- Interest paid: annually on 01 Jul (commencing 01 Jul 2017) and on maturity (01 Jul 2018)
- Minimum investment: £100
- Maximum investment: £1,000,000 (£2,000,000 for joint accounts)
- Withdrawals: No withdrawals are permitted until the day after maturity (02 Jul 2018). Closure of the account is not permitted until the day after maturity (02 Jul 2018).
- This account is limited issue. Once the account is open, you can make deposits up to and including 31 May 2016. After this date the account may be closed for further deposits at any time and without notice.
- Operate through branch or by post
Fixed upto and inc. 31/07/2018
Then changing to the Society's SVR, (currently)5.69%
For the remaining term of the mortgage
The overall cost for comparison is5.1% APRCMaximum loan to value 75% | No Higher Lending Charge. | 10% capital repayments are allowed each year without incurring an Early Repayment Charge. | Tapered Early Repayment Charges apply up to and including 31 Jul 2018. | Free standard valuation up to £999. | Fees assisted in-house legal services for standard re-mortgages. | Maximum loan £500,000. | Interest calculated daily. | This product is not available to interest only applications. | | Booking Fee (£0), Redemption Fee (£199), Product arrangement fee (£199 - refundable) and other fees will apply – check product details for more information
A mortgage of £145,000 payable over 25 years initially on a fixed rate for 2 years at 1.95% and then on our current Standard Variable Rate of 5.69% (variable) for the remaining 23 years would require 24 monthly payments of £610.69 and 276 monthly payments of £882.45.
The total amount payable would be £258,448.21 made up of the loan amount plus interest of £113,214.21 and booking fee £0, product arrangement fee £199, valuation fee £0.
The overall cost for comparison is 5.12% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
Warning:THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
You’ll notice that we talk about ‘members’ and not ‘customers’. And there’s never a mention of ‘shareholders’. This is because Leeds Building Society is proudly a mutual society. We are owned by our members, the people who have mortgages and savings with us.
If you’re used to dealing with the banks, this might sound revolutionary, but it’s how we’ve worked for 140 years. With all that experience, we know exactly how to design financial products to meet the ever-changing needs of our members’ lives and all the little surprises life brings.Discover more about us