Leeds launches lowest ever 10-year fix

Leeds Building Society is launching the lowest ever 10-year fixed rate mortgage charging just 2.75%.

The best buy deal, available from Thursday, is available up to 65% LTV.

It is portable, has tapered early repayment charges and allows overpayments of up to 10% per year. It comes with a fixed £1,499 fee.

Martin Richardson, director of business development, said: “This is the lowest ever 10-year fixed rate mortgage to come on to the market.

“Borrowers who want to give themselves security of repayments for the long term can take advantage of this extremely competitive rate."

Richardson expected the mortgage to attract homeowners who want to lock in to a low rate and fix their monthly repayments for the remaining 10 years of their mortgage term.

Charlotte Nelson, finance expert from Moneyfacts.co.uk, said: “This 2.75% 10-year fixed rate is the lowest on our 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.

It charges 3.39% to 75% LTV, 3.49% to 80% LTV and 3.89% to 85% LTV

Each fees-assisted deal comes with a free valuation, fees-assisted legal services for standard remortgages, and a £199 fee.