Leeds launches its lowest ever five-year fix

Leeds Building Society has launched its lowest ever five-year fixed rate mortgage.

The five-year fix has an interest rate of 1.99% and is available up to 75% LTV. It comes with £1,000 cashback.

Jaedon Green, Leeds Building Society’s director of product and distribution, said: “Across our range we offer a choice of fee and incentive packages and cashback deals are proving very popular at the moment.

“Fixed rate mortgages remain the choice of the majority of borrowers but, as recent political upheaval continues to be reflected in ongoing economic uncertainty, more may seek the security of a longer-term deal.

“Last month we launched a flexible 10-year fixed rate mortgage at 2.75% with no ERCs (Early Redemption Charges) after five years, which offers even longer-term stability.

“This gives the security of a 10-year fix but the option to redeem without penalty after five years to remortgage or pay off the loan.”