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Mortgage lender launches two versions of same mortgage
Tue, 08 Nov 2005
A new tracker mortgage has been launched by Leeds Building Society, with two versions available to mortgage borrowers.

The mortgage lender's new base rate tracker mortgage will be pegged at 0.14 per cent above the base rate of the Bank of England.

Currently at 4.64 per cent, the mortgage charges no higher lending fee. Mortgage borrowers are allowed to make ten per cent capital repayments every year.

The first version of the mortgage is for mortgage borrowers who do not want to pay mortgage fees .

This is ideal for those with a smaller mortgage or those who require help with mortgage fees , says the mortgage lender's Karen Wint.

Those with a larger mortgage will be charged a lower mortgage rate but will still have to pay mortgage fees .

"It is important that our customers take the right mortgage to suit their needs and offering a fee-free version of all our products ensures that, whatever the individual circumstances, customers get the right product," Ms Wint explains.

A shared ownership mortgage has also been launched by the mortgage lender . Aimed specifically at first time buyers , the mortgage is available at a maximum loan to value of 100 per cent.

The first time buyer mortgage also offers a discount of 1.5 per cent for the first three years.

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