Leeds Building Society has added a new product to its ten-year fixed mortgage range.
The new 3.64 per cent fix is available at up to 80 per cent loan-to-value (LTV) and permits overpayments of up to 10 per cent each year without charges. The product comes with an arrangement fee of £999.
Borrowers looking to fix for a longer term also have the option to choose Leeds’ ten-year mortgage offer with a lower fixed rate of 3.14 per cent but at a higher LTV of 65 per cent. The arrangement fee stands at £199.
After the fixed term expires both products go on a standard variable rate (SVR), currently standing at 5.69 per cent.
The annual percentage rate (APR) for the 80 per cent LTV offer is 4.5 per cent and the APR for the 65 per cent deal is 4 per cent.
“Mortgage rates are currently at record lows and borrowers who choose a long term fix are giving themselves the security of knowing their monthly repayments for years to come.
“When your mortgage is usually your biggest outgoing each month, fixing your repayments gives you peace of mind and makes it easier to budget for all your other household bills,” Martin Richardson, Leeds Building Society’s general manager of business development, said.
