Leeds Building Society has launched a 10-year fixed rate mortgage at only 4.99%.
The mortgage has no higher lending charge, up to 90% loan to value and allows 10% capital repayments each year without penalty.
There is also a fee free version for customers who require help with fees.
Stuart Fearn, product development manager, says: “This 10-year fixed rate at only 4.99% offers outstanding value, with certainty of payments and the flexibility to pay 10 per cent capital repayments each year without penalty.
“We have created this product with a fee free option to ensure that customers with smaller deposits and / or less funds available for fees can still benefit from certainty of payments over a longer period.’
“It is clear that customers want to lock in good value when rates are low enough and this is another ideal opportunity. We know this will be popular as many customers like the certainty of payment offered by this type of product and I would urge customers to act quickly to avoid disappointment.”