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Leeds Building Society unveils 10-year fix

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10/04/2015
Leeds Building Society has become the latest lender to launch a competitive 10-year fixed rate product.

The Yorkshire mutual is now offering a decade-long deal at a rate of 3.64%. The deal is available to borrowers with a deposit of 20%.

A £999 fee applies and the mortgage permits overpayments of up to 10% each year without penalty.

The society already offers a low-fee 10-year deal at 3.14%. This deal comes with a £199 fee and is available up to 65% loan-to-value.

“Our latest 10 year fixed rate mortgage complements our existing fees assisted 10 year deal, which is available up to 65% LTV with an extremely competitive rate of 3.14%,” said Martin Richardson, Leeds Building Society’s business development general manager.

“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.

“We know 10 year fixed rate mortgages won’t suit everyone but this choice is part of our range of fixed rate deals including two, three and five year terms too, so borrowers can choose the length of time that suits them best.”

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