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New summer mortgage deals from Leek United

15th August 2019

New summer mortgage deals from Leek United

LEEK United has announced some cool new summer deals for homebuyers… Two of the Society’s most popular mortgages enjoy rate reductions, becoming even more attractive– and are part of a complete update of the Society’s portfolio of mortgage products, all-available from 1 August 2019.

Highlights are:

A Two-Year Fixed Rate Mortgage, at 1.74%, Annual Percentage Rate of Charge 5.3% and 75 Loan to Value (LTV);

A Five-Year Fixed Rate Residential deal, offering a 3.22% Annual Percentage Rate of Charge 5% and 95% LTV;

A Two-Year Discount Mortgage at 2.40% (reduced from 2.59%) Annual Percentage Rate of Charge 5.30% and 90% LTV.

The deals also offer homebuyers a ‘feelgood factor’…

Customers who opened a savings account with the Society before 28th 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.

To get the summer ‘feelgood factor’ on any of the Society’s new 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 here.

 

*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 cashback 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.

 

Representative Example (based on a house purchase): 

Te 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 £148,000.00 on a capital and interest (repayment) basis payable over 25 years initially on a fixed rate for 5 years fixed at 3.22% and then on our Standard Variable Rate (SVR) of 5.69% (variable) for the remaining 20 years you would pay: 

 1 monthly repayment of £13.06, followed by 60 monthly repayments of £717.02, followed by 240 monthly repayments of £883.80

The total amount payable would be £255,286.26 made up of the loan amount of £148,000.00 plus interest (£107,146.26) 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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