The Leeds Building Society has introduced two new fixed rate Flexit mortgages with no Early Repayment Charges (ERCs).
The new products are available for residential lending up to 75% loan to value (LTV).
Borrowers can make unlimited overpayments or redeem their mortgage at any time without penalty, while their minimum monthly payment will stay the same throughout the fixed rate period.
The products are:
- A 2.29% two year fixed rate Flexit mortgage
- A 2.55% five year fixed rate Flexit mortgage
Both products include a free standard valuation and a £999 product fee. Fee assisted legal services are available on standard remortgage cases.
Matt Bartle, director of products at the Leeds Building Society, said: “The anticipated economic uncertainty in 2021 may be a barrier for some people in pursuing homebuying or remortgage plans.
“We’re pleased to relaunch our Flexit products, offering customers the freedom to make lump sum repayments or even pay off their mortgage in full without any Early Repayment Charges, while benefitting from fixed monthly payments.
“Whether purchasing a new home or raising funds against an existing property, we know these products have been welcomed for combining the certainty of mortgage payments for a fixed period with the flexibility to break that period without penalty should the need arise.”