The Leeds 0% mortgage deal – the facts.
Wednesday July 10 saw the release of the first ever Leeds 0% mortgage deal. It is an innovative new product designed to keep mortgage repayments low for up to the first 6 months of new home-ownership.
Savings totalling hundreds of pounds can be made within the first few months.
Both 3 and 5 year fixed rate mortgages are on offer with 0% interest for either 3 or 6 months. Leeds Welcome mortgage deals are offered on a repayment basis only for new property purchase, interest only and remortgage options are not available.
At the end of the interest free period the deal reverts to the agree fixed rate for the remaining period.
Available mortgage options:
Up to 80% LTV with a 3 month interest free period.
A 3 year fixed rate deal is available which reverts to 3.79%.
A 5 year fixed rate deal is available which reverts to 4.23%.
From 81% to 85% LTV with a 3 month interest free period.
A 3 year fixed rate deal is available which reverts to 4.28%.
A 5 year fixed rate deal is available which reverts to 4.66%.
Up to 80% LTV with a 6 month interest free period.
A 3 year fixed rate deal is available which reverts to 4.20%.
A 5 year fixed rate deal is available which reverts to 4.50%.
From 81% to 85% LTV with a 6 month interest free period.
A 3 year fixed rate deal is available which reverts to 4.75%.
A 5 year fixed rate deal is available which reverts to 4.96%.
All Leeds 'Welcome' mortgages come with a £199 non-refundable booking fee, however the Leeds offers a free standard valuation up to £335 and there is no completion fee.
Due the fact the booking fee is non refundable you are advised to apply through independent broker Deal Direct and not directly to the Leeds.
A rejected application means the loss of the fee, by applying direct to the lender you will have no idea of your chances of acceptance. If you apply through Deal Direct only those applications matching the Leeds' criteria will be forwarded.
If after reviewing your circumstances you don't match the criteria required by the Leeds, Deal Direct will compare on your behalf all other lenders products market-wide to find a low rate mortgage alternative.
Apply today by contacting Deal Direct,
call 0800 048 8828.
