Leeds BS cuts 10-year fixed rate by 0.4%

House-Market-Mortgage-Property-700.png

Leeds Building Society has slashed one of its 10-year fixed rate deals by 0.4 per cent.

The lender is offering a 65 per cent LTV 10-year fix at 4.19 per cent, down from 4.59. The rate cut came into effect on 5 September.

The product carries a £199 fee and offers a free standard valuation up to £335. It also comes with in-house legal services for remortgage borrowers.

Leeds BS general manager for business development Martin Richardson says: “Fixing mortgages for the longer term has become more attractive in the current uncertain interest rate environment and both these deals offer competitive rates.

“Borrowers who choose a longer-term fix have the security of knowing exactly what they will be paying each month for some time into the future. As this is generally their largest regular outgoing, it helps them in planning the rest of their budget.”