The product has no higher lending charge and annualised capital repayments of 10 per cent will not incur a penalty.
The society has also cut the rate on the three-year fixed rate up to 80 per cent LTV by 0.65 per cent, from 3.79 per cent to 3.14 per cent.
Leeds Building Society head of intermediary sales Phil Coombes says: “We are delighted to launch this new 3 year fixed rate at 3.69 per cent, and this market leading rate can be obtained with just a 15 per cent deposit. We have also made a 0.65 per cent rate reduction, to a new rate of only 3.14 per cent, for those with a 20 per cent deposit.
“This is a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments. This is combined with the flexibility of 10 per cent capital repayments each year at a very affordable rate.”