Leeds & Holbeck Building Society is launching a base rate tracker mortgage.
The loan is guaranteed to follow the Bank of England's base rate plus 0.49 per cent for five years. Loans are available up to 95 per cent loan to value.
It has no early redemption penalties, but the society's household insurance is required for five years otherwise 0.24 per cent is added to the rate.
There is an application fee of £395.