Openwork has secured two exclusive fixed mortgage deals with Leeds Building Society.
The deals are aimed at advisers with remortgage clients seeking a competitive rate with low costs.
The first deal is a 2.35% two-year fix until 30 September 2015, with a maximum loan to value of 65%. The second exclusive, again on a two-year fixed rate but on shared ownership only, is 4.99% available up to 95% of the borrower’s share.
Both deals come with a free standard valuation up to £335 and for standard remortgages there is a £199 booking fee and a £200 completion fee.
Paul Shearman, mortgage, protection and general insurance proposition director of Openwork, said: “We are pleased to offer our advisers these exclusive deals with Leeds Building Society with competitive rates as well as low fees.
“The fee assisted two-year fee fixed rate will appeal to those running remortgage campaigns. The Shared Ownership deal will be a valuable addition for advisers operating in this area of the purchase market. Both segments of the market are particularly strong”.
Phil Coombes, Leeds Building Society’s head of intermediary sales, added: “The new two-year product at 2.35%, with a maximum LTV of 65%, is a great opportunity for those clients who wish to lock into the certainty of low fixed repayments. This is combined with the flexibility of 10% capital repayments each year at a very affordable rate. This product also provides a free standard valuation up to £335, and free in-house legal services for standard re-mortgages helping with upfront costs.
“The new two-year shared ownership product at 4.99% has an overall maximum LTV of 75% with a maximum borrower share of 95%. It’s ideal for clients who have saved for a deposit but cannot buy a property in their own right. We are all well aware of the difficulties facing first time buyers buying a home. They can often struggle to meet the full asking price or their current income is insufficient to support a full mortgage.
“This shared ownership product facilitates that first step, and provides a starting point to staircase up to full home ownership as earning potential increases.”
