Leeds building society has launched a five-year fix at 2.99% with what it claims is ‘an attractive package of incentives’.
The five-year deal is available up to 80% loan-to-value and comes with a £199 fee, free standard valuation on properties worth up to £500,000, and fees-assisted legal services for standard remortgages.
Martin Richardson, Leeds general manager for business development, said the incentives make the deal attractive for borrowers wanting to minimise the cost of taking out a new mortgage.
“With mortgage rates so low right now, more borrowers are prepared to consider a five-year fix where previously they might have favoured a shorter term,” he said.
“The low-fee package on this five-year deal also offers remortgagers the opportunity to lock in to a lower rate than they have at present with minimal charges up front.”
