The new mortgage product has no higher lending charge and is available up to 90% loan to value. In addition, it allows 10% capital repayments each year, without penalty.
Karen Wint, head of marketing and PR for Leeds Building Society, said: With the Bank of England’s decision to add 0.25% to base rate in July, and market experts predicting further increases before the end of the year, many borrowers will be looking for ways to protect themselves against any future increase and lock in long term value. At only 5.89%, this product provides certainty over a significant period at an affordable rate.
In addition, our 10-year fixed is fully portable, so if customers do wish to move during the term they can take this product with them. Furthermore, there is also a fee-free version available for customers looking to minimize upfront costs.
