The Leeds Building Society has launched a five year fixed rate mortgage with £1,000 cashback.
The new deal has a rate of 1.99%, fixed to 28 February 2022, and is available up to 65% LTV.
It has a £1,499 completion fee.
“The market-leading rate on this five year deal is made even more attractive by the £1,000 cashback,” said Jaedon Green, Leeds Building Society’s director of product and distribution.
“Across our range we offer a choice of fee and incentive packages and cashback deals are proving very popular at the moment.
“Fixed rate mortgages remain the choice of the majority of borrowers but, as recent political upheaval continues to be reflected in ongoing economic uncertainty, more may seek the security of a longer-term deal.
“Last month we launched a flexible 10 year fixed rate mortgage at 2.75% with no ERCs (Early Redemption Charges) after five years, which offers even longer-term stability.
“This gives the security of a 10-year fix but the option to redeem without penalty after five years to remortgage or pay off the loan.”
All Society fixed rate mortgages are portable, subject to the borrower meeting affordability requirements at the time of porting.