Leeds 5-year fixed rate mortgage at 3.94%

Leeds Building Society has launched a new 5-year fixed mortgage range available from a market leading 3.94%, a reduction of up to 0.65% from the previous product, enabling customers to lock in to certainty and value.

Furthermore, there is no higher lending charge, the mortgage is fully portable should customers wish to move home and 10% capital repayments are allowed each year without penalty.

Kim Rebecchi, Sales and Marketing Director said, "We know that interest rates cannot stay this low forever. Andrew Sentence, a member of the Monetary Policy Committee, has voted for an increase to Bank Base Rate of 0.25% at the last three meetings.

"At Leeds Building Society we recognise that many customers prefer certainty and this market leading 5-year fixed rate range compliments our highly competitive 3-year fixed rate deal. It benefits those borrowers who wish to lock into the certainty of low fixed repayments, providing peace of mind and the security that their monthly payments will remain the same for five years, at a very affordable rate."

The rate of 3.94% is available up to 60% loan to value (LTV). There are also versions available at 4.59% between 61% and 80% LTV and 5.39% between 81% and 85% LTV. All versions offer the same flexibility.

Kim added, "Many customers will welcome the ability to budget with certainty and limit their monthly outgoings, particularly existing homeowners who may be coming to the end of their current deal. Furthermore, this mortgage is fully portable and should customers wish to move home during the 5-year period, they can take this excellent product with them."