All fixes rose again this week. While the average rate for a two-year mortgage moved up 5 basis points, to 2.80%, every other fix increased by 3 basis points. This took the average rate for a three-year fix to 2.79%, for a five-year fix to 2.97%, and for a 10-year fix to 2.90%. Two-year fixes At 80% LTV, the average
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Leek United has introduced several changes across their product range including a rate reduction in its 85% loan-to-value (LTV) range and a reduction of 0.10% for its 2-year discount interest-only product up to 75% LTV.
The changes include reductions in rate for the Society’s two and 5-year fixed and discount residential range, for loans up to 85% LTV, with rates from 1.80% all including £400 cashback.
Following intermediary feedback, and to support higher value applications there are a number of fixed fee options from £995.
The Society applies a flexible approach to lending with every application assessed individually by our experienced underwriters, no credit scoring, the acceptance of new builds, and loans accepted up to £1.5m.
The chairman of a parliamentary group that normally waves the flag for financial mutuals has criticised building societies for awarding chief executives five or six-figure bonuses last year while the country was in lockdown.
Exclusive research by The Mail on Sunday shows that 23 building society bosses received bonuses last year, ranging from £3,000 to a staggering £226,000. These bonuses were received at a time when many of the industry s 25million customers were struggling financially – not least from record low savings rates.
Gareth Thomas, Labour MP for Harrow West and chairman of the All-Party Parliamentary Group for Mutuals, told The MoS: Runaway levels of executive pay are an issue for society as a whole and there cannot be any business or moral justification for any executive pay to be obscenely disproportionate to that of its lowest paid workers.
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