Impaired credit home loans launch from L&H.(Leeds & Holbeck Building Society)(Brief Article)

Financial Adviser, May, 2005

LEEDS & Holbeck Building Society has launched a range of mortgages designed to help customers that have impaired credit.

The non-conforming mortgage range offers a two-year fixed-rate mortgage and a three-year stepped discount option for three levels of impaired credit -- light, medium and heavy.

The rate that applies to each product depends on the level of impaired credit. Rates start from 6.25 per cent for the two-year fixed rate and discounts of 1.40 percentage points in year one, 0.90 percentage points in year two and 0.65 of a percentage point in year three for the stepped discount mortgage.

The maximum loan-to-value for both products is 75 per cent and loans of up to AGBP500,000 are subject to an arrangement fee of AGBP495. The loans...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.