Leeds launches 10 year fixed mortgage
Available up to 75% loan to value (LTV), the mutual is offering the 4.58% product to both purchase and remortgage customers.
The lender is also offering a ten-year fix to borrowers with a smaller deposit, an 80% LTV deal available at a rate of 4.79%.
A booking fee of £199 and completion fee of £800 applies to both deals, with 10% capital repayments allowed each year without penalty and no higher lending charge.
Kim Rebecchi, sales and marketing director at Leeds Building Society, said, “With 10-year market rates at historically low levels, we are able to offer these long-term market leading fixed rate mortgages from only 4.58%.
“The products are available for both purchases and remortgages and customers can lock-in value for a decade which, in the current economic environment, delivers security and peace of mind at a very low rate.
“Furthermore, there is no higher lending charge and customers can pay off 10% of capital each year, without penalty. The mortgages are also fully portable should a borrower wish to move home during the term, providing even greater flexibility.
“I believe these mortgages offer excellent value and will prove extremely popular with customers who are seeking security and value over a longer term.”