Leeds base rate tracker mortgage launched

The new Leeds base rate tracker has been launched and it comes with a rate 0.14 per cent above the Bank of England (BoE) base rate.

This mortgage comes with no higher lending fee and also allows customers to make ten per cent capital repayments annually. Other fees are applicable.

Leeds Building Society is offering it in conjunction with a second fee-free base rate tracker mortgage, which comes with a rate of 0.44 per cent plus the BoE base rate.

Karen Wint, head of marketing and PR, said this policy of offering two versions of one product has "proved extremely popular".

She added that customers with a smaller mortgage will prefer the fee-free versions, while those borrowing larger sums of money will look to the lowest rate but pay a fee.

"It is important that our customers take the right mortgage to suit their needs," Ms Wint concluded.