Leeds & Holbeck Building Society has launched a new 10-year fixed rate mortgage at 4.95%.
The new mortgage is fully portable and available up to 95% of property value. Capital repayments are allowed at up to 10% a year and there are no MIG fees up to 90% of property value.
Tony Burdin, head of marketing, says: “Although some people anticipate a further cut in bank base rate, it is increasingly likely that the medium-to long-term trend will be upwards.
“With a rate of just 4.95% it represents excellent value for money and is ideal for borrowers wanting long-term peace of mind about their monthly repayments. It is hard to imagine cheaper 10-year deals coming onto the market.”