Leeds Building Society offers £1,000 fixed term January sale

Leeds Building Society is offering a discount of over £1,000 on its two-year fixed term mortgage product in January.

As well as an interest rate of 5.4 per cent, the offer provides homeowners with a free valuation up to £335 and a reduction in the completion fee from £999 to £299.

With ten per cent capital repayments allowed each year, without penalty, the lender claims that the discounted product will be particularly attractive to those who are coming to the end of their current fixed term mortgages in 2008.

"After the festive season it is a time when households see a significant increase in expenditure and many mortgage customers will be coming out of a fixed rate in 2008," said Karen Wint, general manager of marketing and customer services.

"Clearly, the opportunity to minimise the cost of the biggest monthly outgoing will be welcomed and this sale product provides this."

The discounted product is available for up to 80 per cent loan-to-value, with a maximum loan of £250,000 and no higher lending charge.

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