ONE of Leek United’s newest mortgage products has become an instant national ‘Best Buy’.
The Society’s 3.10% Five-Year Fixed Rate Mortgage – launched from Friday 31 May – was given the rating by leading financial data provider Moneyfacts*.
Rachel Springall, Finance Expert at Moneyfacts, said: “Borrowers hoping to secure a low rate on their mortgage over the next five years with a 5% deposit will be delighted by this latest deal from Leek United Building Society.
“Those looking to minimise the upfront cost of their mortgage will find its generous incentive package of free valuation, £250 cashback and no product fee highly appealing.”
The deal is just one of an exciting portfolio of new mortgage products launched by Leek United 2 weeks ago, which also offer homebuyers a double ‘feelgood factor’.
Customers who opened a savings account with us before February 2017 can feel extra good about taking out a new mortgage by receiving £200 – as well as securing a £50 donation for one of four charities in Leek United’s heartland** – on completion.
“Our new range of mortgage products really do have the ‘feelgood factor’ built in to them – and we’re especially delighted that one of them has already been rated as a national ‘Best Buy’,” said Lisa Buckley, the Society’s Head of Marketing and Mortgage Sales.
The new Leek United products – include Two-Year and Five-Year Fixed Residential and Buy-to-Let deals; and Two-Year Discounted Residential and Buy-To-Let mortgages.
To get the ‘feelgood factor’ on any of the Society’s mortgage products simply call Leek United directly or pop by at any one of the Society’s 12 local branches in Cheshire, Derbyshire, Shropshire or Staffordshire!
Find out more about Leek United’s full range of new mortgage products by visiting: https://www.leekunited.co.uk/mortgages/
*Moneyfacts Group is the UK's leading provider of personal finance data. Moneyfacts' data is used throughout the UK's financial industry. It is used by the Bank of England, HM Treasury and the UK Government, and virtually every bank and building society.
**The ‘Feelgood Mortgage’ gives members the chance of not only applying for a suitable mortgage with the Society, but also helping a local charity in Cheshire, Derbyshire, Shropshire or Staffordshire.
After following the Society’s mortgage process applicants will be able to choose one of four charities to receive a £50 donation from Leek United – in addition to getting £200 cash back themselves – on completion of their ‘Feelgood Mortgage’.
The charitable organisations to benefit under the ‘Feelgood’ scheme include: East Cheshire Hospice (Cheshire); Treetops Hospice (Derbyshire); Severn Hospice (Shropshire); and The Donna Louise Hospice for Children and Young People (Staffordshire).
Terms and conditions apply.
The Annual Percentage Rate of Charge (APRC) varies with the circumstances of each mortgage. Here is a representative example of a loan secured on your main residential property: A mortgage of £121,000.00 on a capital and interest (repayment) basis payable over 25 years initially on a fixed rate for 5 years fixed at 3.10% and then on our Standard Variable Rate (SVR) of 5.69% (variable) for the remaining 20 years you would pay:
The total amount payable would be £207,890.68 made up of the loan amount of £121,000.00 plus interest (£86,750.68) a funds transfer fee of £20 and legal fee of £120. The overall cost for comparison is 4.7% APRC representative.
Please note: the example above is for a residential property purchase only and assumes a payment date of 1st of the month. If you choose to pay your mortgage later in the month this will affect payments and could result in a higher APRC. For product transfers, re-arrangement and additional borrowing applications, certain fees do not apply. Please speak to your mortgage adviser for further details.
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