Leek United Building Society

The Leek United Building Society was founded in 1863. The Society opened its first branch in Derby in 1954 . Now The Leek is represented in the counties of Staffordshire, Derbyshire, Cheshire and Shropshire and has 13 different offices. Leek United is the 26th largest Building Society, with over £590 million in assets, and has regularly featured within the national best buy tables for offering competitive mortgage products. The wide range of products and excellent customer service ensures that it uphold a competitive advantage as 'the friendlier face of finance. It is committed to remaining a mutual organisation.

The Leek United provides the following mortgage types:

• Discount
• Buy to Let
• Re-mortgages
• First Time Buyer

Discount: there are 3 different types of discount mortgage offered. Each is set at the Society's standard variable rate less a discount for a set interval depending on which product you choose.

Mortgage Plus: the rate is set at the Society's standard variable rate discounted for the first 4 a years of the mortgage term. In any 12 month interval you can make repayments of up to 10% of the loan, and an early repayment fee applies. Interest is calculated daily.

Flexible: set at a discount off the standard variable rate for the first 10 years of the mortgage. You can take a payment holiday provided that you overpaid some of your repayments. There is also a draw down feature where your previous overpayments can refunded.

Stepped Mortgage: this mortgage is designed to bring your initial discount rate back in line with the standard variable rate after 3 years of staggered rate increases. Upon completion of the mortgage you can take advantage of a cash back offer. Early repayment charge may apply in the first 3 years.

Buy to Let: this type of re-mortgage is for those who have a second property intended for investment. For the first 3 years the mortgage rate is discounted off the standard variable rate.

Re-mortgages: you can choose of the Fee Free Flexi Re-mortgage and the Fee Free Re-mortgage.

Fee Free Flexi Re-mortgage: this mortgage offers a long term discount, and interest is calculated on a daily basis.

• You can make regular overpayments
• there is no early repayment charge
• A draw down feature is also available
• There is no application fee

• There is no application fee
• and no valuation fee

Leek United Building Society offers a special mortgage, First Time Buyer. The discount is staggered like the Stepped Mortgage but with larger discount. Your mortgage repayments will be especially low in the first year, just when they are needed to be. Other features also include:

• Cash Back in the first year
• No application fee
• Interest is calculated on a daily basis

An early repayment charge will apply if the mortgage is repaid within the first 3 years.

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