Leeds BS to cut 10-year fixed rate by 0.4%

Leeds Building Society is slashing a 10-year fixed rate by 0.4 per cent.

From 5 September the lender will offer a 65 per cent LTV 10-year fix at 4.19 per cent, down from 4.59.

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

Leeds BS general manager for business development Martin Richardson says: “Fixing your mortgage 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.”