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Leeds BS launches record-low 10-year fix

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  • 09/03/2016
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Leeds BS launches record-low 10-year fix
Leeds Building Society is set to offer the lowest 10-year fixed rate currently available in the UK, from tomorrow.

The society said its 10-year fixed rate mortgage at 2.75% is the lowest of its kind and is available up to 65% loan-to-value (LTV).

The mortgage is portable, has tapered early repayment charges and allows overpayments of up to 10% per year. It comes with a fixed £1,499 fee.

Martin Richardson, Leeds Building Society’s director of business development, said: “Borrowers who want to give themselves security of repayments for the long term can take advantage of this extremely competitive rate.”

Charlotte Nelson, finance expert from Moneyfacts.co.uk, said: “Not only does this deal boast a competitive rate it is likely to be a popular choice for borrowers looking for the peace of mind that a 10-year fixed rate mortgage gives.”

The mutual has also announced it will launch of a 95% LTV fees-assisted mortgage for first-time buyers and other borrowers with smaller deposits, also from tomorrow.

The 3.89% two-year fixed rate deal comes with a £199 fee and free valuation.

“In addition to a competitive rate, this two-year fixed rate deal comes with the extra incentives of a low fee and free valuation,” Richardson added.

“It’s important to us to support borrowers who are not well served by the wider market, including homebuyers with smaller deposits.”

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