Furthermore, there is no higher lending charge and the mortgage is fully portable.
Kim Rebecchi, sales and marketing director, said, "We know that interest rates cannot stay this low forever and Andrew Sentance voted for an increase to Bank Base Rate of 0.25% at the last MPC meeting, which is the first vote in favour of a rise for many months.
"At Leeds building Society we recognise that many customers prefer certainty and this 5-year fixed rate range compliments our ‘best buy' 3-year fixed rate deal. It benefits those borrowers who wish to lock into the certainty of low fixed repayments, providing peace of mind and the security that their monthly payments will remain the same for five years, at a very affordable rate.
"Furthermore, we are also offering a £1,000 cash back and the mortgage is also fully portable, so should customers wish to move home, they can take this excellent product with them without penalty."
The rate of 4.59% is available up to 60% loan to value (LTV). There are also versions available at 4.79% between 61% and 80% LTV and 5.49% between 81% and 85% LTV. All versions offer the same cash back and flexibility.
Kim added, "Many customers will welcome the ability to budget and limit their monthly outgoings, particularly existing homeowners who may be coming to the end of their current deal."
