Furthermore, there is no higher lending charge and 10% capital repayments are allowed each year, without penalty.
Kim Rebecchi, sales & marketing director at Leeds Building Society 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.
"This is the only 10 year product available with just a 20% deposit. There is no higher lending charge and customers can pay off 10% of capital each year, without penalty. The product is also fully portable should a borrower move home providing even further flexibility."
Kim added, "It is expected that this product will prove extremely popular with customers who are seeking the security of guaranteeing their mortgage payments for the long term.”
