Martin Richardson, Leeds Building Society general manager for business development, said it could provide a good compromise for borrowers looking to commit for more than two years, who feel five years or more is too long.
Available on home loans up to 65 per cent LTV with free standard valuation, up to £335
Free in-house legal services available for standard remortgages
£199 booking fee and completion fee of 2.5 per cent of the loan amount
Maximum loan £200,000
Capital repayments of 10 per cent are allowed each year
David Hollingworth, London & Country Mortgages, Bath
“This is the lowest rate on the market, but you can’t assess on rate alone. You have to factor in the fees. Three-year rates have a place and this is an eye-catching rate, but the fees are large.”