LSL Property Services Group and Leeds Building Society have launched an exclusive 95% LTV mortgage to the group.
It is available to the directly authorised advisers and appointed representatives of Pink Mortgage Club and TMA and First Complete and Pink networks.
The new three-year fixed rate deal comes with a free valuation for both purchases and remortgages, while free legal services apply to remortgages.
Product details include:
- 4.89% Fixed Rate until 3/11/2016
- A non-refundable £199 booking fee payable at application.
- No Completion Fee.
- Maximum loan: £300,000 (£400,000 up to 90% LTV).
- Tapered ERC of 4/3/2% of the amount redeemed.
- 10% capital repayments allowed each year.
- No Higher Lending Charge.
David Copland, director of mortgage services for LSL’s financial services division, said: “As the market improves it is important that we continue to offer our advisers more and better choices for their clients. Higher LTV products fulfil a need for those that can afford the repayments, but have found it difficult to save for a larger deposit during the economic downturn.
“Securing this exclusive with Leeds, for up to 95% LTV, increases our product range and gives advisers more scope to help clients that they may not have been able to in the recent past.”
Phil Coombes, head of intermediary sales at Leeds Building Society, added: “We are continually working with our intermediary partners and have developed this exclusive product, together with LSL Property Services, to provide a real solution for purchasers and those remortgaging, with either smaller deposits or lower equity.”