Leeds Building Society launched new five-year fixed rate products to its mortgage range.

The society is adding a five-year fixed rate product, at 3.25%, available up to 75% loan-to-value (LTV) as well as a five-year fixed rate product, at 3.34%, available up to 80% LTV. Both come with a product fee of £999. 

In addition, it is launching a fee-free two-year fixed rate mortgage, at 3.49%, available up to 65% LTV with no product fee. 

All three deals are available from 14 July and come with a free standard valuation and fees assisted legal services for standard remortgages.

Leeds Building Society director of mortgage distribution Martese Carton says: “We know from the market trends we are seeing that customers are increasingly looking for longer term fixes.”

“When economic circumstances are uncertain, longer term fixes allow borrowers the security of knowing what their repayments will be. So, they can plan their budget knowing that what tends to be their largest monthly outgoing will remain unchanged for the term.”

“As a result we’ve introduced new five year fixed mortgages, to ensure we continue to offer choice to consumers and help meet the needs of their own individual circumstances.”