The product allows 10 per cent capital repayments each year without penalty, is available up to 95 per cent loan-to-value (LTV) and there is no higher lending charge up to 90 per cent LTV.
Karen Wint, head of marketing & PR at Leeds, said: "Some customers who currently have discount or tracker mortgages may be concerned about what will happen to their monthly payments if interest rates continue to rise. This product protects them against any increases and provides excellent peace of mind."
Full product details:
- 5.29 per cent fixed up to and including 28 February 2010
- Available up to 95 per cent LTV
- No Higher Lending Charge up to 90 per cent LTV
- Completion fee of £750 up to £500,000, over £500,000 fee by negotiation only
- 10 per cent capital repayments allowed each year
- Tapered early repayment charges of 4/3/2 per cent of the amount redeemed
