The Leeds Building Society has introduced a new three-year fixed rate mortgage at 3.69% available up to 85% LTV.

There is no higher lending charge and 10% capital repayments are allowed each year without penalty.

The mutual has also reduced the rate on the version available up to 80% LTV by 0.65 basis points to a new rate of 3.14%. It has the same flexibility as the other product.

“We are delighted to launch this new three-year fixed rate at 3.69%, and this market leading rate can be obtained with just a 15% deposit,” said Phil Coombes (pictured), Leeds Building Society’s head of intermediary sales.

“We have also made a 0.65% rate reduction, to a new rate of only 3.14%, for those with a 20% deposit.

“This is a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments. This is combined with the flexibility of 10% capital repayments each year at a very affordable rate.”

A ‘fee assisted’ three-year product is also on offer at 3.89% up to 80% LTV and at 4.29% between 81% and 85% LTV.