Leeds Building Society has unveiled its lowest ever 10-year fixed rate mortgage at 2.75%.
The deal is available from 10 March and has up to 65% loan-to-value.
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.
“This is the lowest ever 10 year fixed rate mortgage to come on to the market,” said Martin Richardson, Leeds Building Society’s director of business development.
“Borrowers who want to give themselves security of repayments for the long term can take advantage of this extremely competitive rate.
“We expect this mortgage might appeal in particular to homeowners who only have 10 years or so left on their current mortgage term and want to lock in to an exceptionally low rate and fix their monthly repayments for the remainder of their home loan.”
Charlotte Nelson, finance expert from Moneyfacts.co.uk, said: “This 2.75% 10-year fixed rate from Leeds Building Society is the lowest on Moneyfacts.co.uk records.
“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.”
Leeds also offers a range of 10-year fixed rates at higher LTVs, starting at 3.39% with a 75% LTV and a fee of £199.
The building society has also launched a 3.89% two-year fixed rate deal with a 95% LTV and a £199 fee.
