There are no higher lending charges and 10% capital repayments are allowed each year, without penalty with the product.
Kim Rebecchi, sales & marketing director at Leeds, said: “This product speaks for itself and delivers peace of mind and security, over a large part of a typical mortgage life, at an affordable rate.
“To lock in at only 4.99% for 10 years is simply excellent value and the mortgage is fully portable, so should a borrower move home they can take this product with them providing even further flexibility.
“This product will prove extremely popular with customers who are seeking the security of guaranteeing their mortgage payments for the long term.”
Louise Holmes, spokeswoman for Moneyfacts, said: “For borrowers looking for an 80% mortgage, this is the lowest rate in this limited sector at this loan-to-value.”
