Leeds slashes 10-year fixed to market leading rate

Leeds Building Society has reduced the rate on its 10 year fixed rate mortgage by 1% to a market leading 4.99%.

Furthermore, this rate is available up to 80% LTV, there is no higher lending charge and 10% capital repayments are allowed each year, without penalty.

Kim Rebecchi, Sales & Marketing Director at Leeds Building Society said, "This product speaks for itself and delivers peace of mind and security, over a large part of a typical mortgage life, at an affordable rate. To lock in at only 4.99% for 10 years is simply excellent value and the mortgage is fully portable, so should a borrower move home they can take this product with them, providing even further flexibility."

Louise Holmes, spokesperson for Moneyfacts said,"The 10 year deal has been reduced by 1.00% to 4.99% and is now available to direct business as well as via intermediaries. For borrowers looking for an 80% mortgage, this is the lowest rate in this limited sector at this loan-to-value."

Kim added, "This product will prove extremely popular with customers who are seeking the security of guaranteeing their mortgage payments for the long term."

For more information, visit leedsbuildingsociety.co.uk.