The mortgage has no higher lending charge, up to 90 per cent loan-to-value and allows 10 per cent capital repayments each year without penalty. There is also a fee free version for customers who require help with fees.
Stuart Fearn, product development manager, said: "With some market commentators predicting a further rise in base rate this year, the 10-year fixed rate at only 5.19 per cent offers outstanding value, with certainty of payments and the flexibility to pay 10 per cent capital repayments each year without penalty. We have created this product with a fee free option to ensure that customers with less funds available for fees can still benefit from fixed payments over a longer period.
"It is clear that customers want to lock in good value in a rising rate environment and this is an ideal opportunity."
