Leeds launches lowest ever 10 year fixed rate mortgage
Leeds Building Society is launching the lowest ever 10 year fixed rate mortgage1 - at 2.75%.
The best buy deal is available from Thursday, 10th March, up to 65% LTV.
The mortgage is portable, has tapered early repayment charges and allows overpayments of up to 10% per year without an early repayment charge. There is a fixed £1,499 product arrangement 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 Building Society also offers competitive fees assisted 10 year fixed rates at higher LTVs:
- 3.39% up to 75% LTV
- 3.49% up to 80% LTV
- 3.89% up to 85% LTV
Each fees assisted deal comes with a free valuation, fees assisted legal services for standard remortgages, and a low £199 product arrangement fee.
1Lowest rate on Moneyfacts.co.uk records, 8th March 2016