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Cheap mortgage to help first-time buyers

Date: Mon, 21 Nov 2005

A new cheap mortgage has been launched to help first-time buyers step on to the property ladder.

The new 100 per cent mortgage is available from Leeds Building Society and will appeal to those buyers who have little savings to contribute towards a deposit or prefer to spend their cash on other moving expenses.

The product, which has a 6.5 per cent variable interest rate, also comes with a cashback equal to one per cent of the loan amount, and there are no application or completion fees as well as a free valuation up to £335. There is also free mortgage protection for the first six months of the mortgage term.

"This is a really simple product, enhanced with a cashback, which will help some people - who really need it - buy their first home," said Karen Wint, head of marketing & PR.

"It is easy to understand, gives excellent flexibility and assists with some of the expenses of moving into a new home," she added.


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Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.