Leeds Building Society has launched a new three-year direct-only fixed rate mortgage at 3.45 per cent.
The 3.45 per cent product is available at 75 per cent loan-to-value, while the building society charges 3.89 per cent for loans up to 80 per cent LTV and 5.29 per cent for loans up to 85 per cent LTV.
There is a booking fee of £199, and also an £800 completion fee for loans up to £500,000 and a 1 per cent fee for loans up to £1m.
Customers are able to pay off 10 per cent of the loan’s capital each year without being charged and there is no higher lending charge.
Leeds BS has also launched fees assisted versions of the products, aimed at those who require help with the upfront costs.
The fees assisted versions of the product, with free valuations and legal services for remortgages, are available at a rate of 3.95 per cent up to 75 per cent LTV, at 4.39 per cent up to 80 per cent LTV and at 5.79 per cent up to 85 per cent LTV.
Sales and marketing director Kim Rebecchi says: “These products provide a great opportunity to secure a fixed rate now, combined with certainty of payments and peace of mind. The three-year term gives people the best of both worlds, as customers have security in the medium term but avoid being locked in for a long period.”