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Mortgage rates hit a new low!

New Mortgages rate cuts has hit a new record low with a five year fixed rate at just 2.79 per cent. Leeds building society is now offering those with a 25 per cent deposit a two year fix at 2.54 per cent with a £999 fee. This is currently the lowest rate available on the market but does come with a catch where by home owners have to take Leeds building insurance if not the rate will rise to 2.78 per cent.
The council of mortgages lenders has said this week that lending is at its highest level in almost a year due to these new low interest rate deals that are tempting home owners. Figures released by the Council of Mortgages Lenders are showing an estimated 4 per cent increase during October compared to the same month last year.So now really is the best time to buy!

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