Leeds lowest ever 10 year fix rated “outstanding”

The lowest ever 10 year fixed rate mortgage launched by Leeds Building Society has been rated “outstanding”.

The mortgage is available up to 65% LTV (loan to value) and allows overpayments of up to 10% per year. It comes with a fixed £1,499 fee.

“This is an exceptional opportunity for borrowers to give themselves security of repayments at the lowest ever long term fixed rate, with the opportunity to port during the term if they need to,” said Martin Richardson, Leeds Building Society’s Director of Business Development.

“We’re pleased by the response from the industry to the launch and started receiving inquiries from intermediaries as soon as we announced the product earlier this week.

“A 10 year fix will always be a niche product but when the rate is lower than that borrowers were recently able to secure for a five year deal, it’s an interesting proposition.”

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.”