New mortgages launched by Leeds and TSB

January 8, 2020 by Brendan O'Neill

Lenders

The Leeds Building Society and the TSB have both chosen the start of a new year to announce the launch of new mortgage deals.

In the case of the Leeds BS, this takes the form of a range of flexible mortgage options, while the TSB has added product transfer deals that are aimed at people who want a fixed rate mortgage loan that will run for a decade at the most.

Those who are on a two-year fixed rate mortgage from TSB will be able to get interest rates of 1.39% for 60% loan to value on their mortgages, while for those with a fixed rate loan lasting five years can get interest rates of 1.89% for loan to value of between 75% and 80%. A borrower who is considering a ten-year fixed rate mortgage can get either 2.24% interest if they have made a deposit of 40%, or 2.29% if they have a loan to value of 60-75%.

The two new deals announced by the Leeds BS are both fixed rate mortgage deals that do not have overpayment limits or early repayment charges. These are being described by the Leeds as ‘Flexit’ mortgages and its director of products, Matt Bartle, stated that they will give customers much more flexibility due to these features.

He went on to add that feedback from mortgage advisors and customers had indicated that people wanted these deals.

With so many different mortgage options available, advisors with CeMAP training are more needed than ever to help borrowers choose the right one.