Leeds launches lowest ever 10 year fixed rate mortgage
Leeds Building Society is launching the lowest ever 10 year fixed rate mortgage - at 2.75%.
The best buy deal is available from Thursday, 10th March, up to 65% LTV (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 Building Society also offers competitive fees assisted 10 year fixed rates at higher LTVs:
- 39% up to 75% LTV
- 49% up to 80% LTV
- 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 fee:
 Lowest rate on Moneyfacts.co.uk records, 8th March 2016
Notes to Editors
10 Year Fixed Rate mortgage at 2.75% up to and including 30th June 2026:
- 10 Year Fixed Rate mortgage at 75% up to and including 30th June 2026 available up to 65% LTV
- This product is portable
- Tapered early repayment charges – 6/6/5/5/5/5/4/4/3/2%
- £1,499 Fee
- 10% penalty free capital repayments are allowed each year
- Product available for purchase and remortgage
To discuss a new case with one of our mortgage development team, mortgage introducers should go to www.leedsintroducer.co.uk to find details of their nearest Business Development contact.
Leeds Building Society received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2016, the third consecutive year the Society has won this category, as well as the award for ‘Product Innovation (Lenders)’.
The Society also has been named ‘Best Regular Savings Account Provider’ for the second consecutive year by independent consumer advice website Savings Champion.
Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £13.5bn (at 31st December 2015). The Society has operated from the centre of Leeds since 1886.