The product features are:
- 0% for the first three months then 4.99% fixed until 30th November 2015 up to 95% LTV
- Free standard valuation up to £335
- Early redemption charges of 3/2%
- £600 completion fee
- A booking fee of only £199
- 10% capital repayments allowed per year
Chief Executive of SimplyBiz Mortgages, Martin Reynolds, commented:
“The initial launch of the ‘Welcome’ product was well received by both our members and the market. By extending the product to 95% LTV, we believe that it will open up greater opportunities for our members and their clients. The first few months following a house move can be costly and this product will help with that as well as providing an attractive rate following the initial three month period.”
Phil Coombes, Head of Intermediary Sales at Leeds Building Society, added:
“We have introduced a number of new schemes and enhancements to existing criteria during the summer months. This new enhancement to our core ‘Welcome’ product via SimplyBiz Mortgages is the next step. We will continue to work with them to provide more opportunities and greater benefits for their members.”
