The Leeds Building Society is tomorrow (23 September) introducing a new three-year fixed rate mortgage.

It will be priced at 3.24% and comes with £1,000 cash back.

The new deal is available up to 80% LTV (loan to value) and comes with benefits include a free standard valuation and fees assisted legal services for remortgages. There is a fee of £199.

“We’re pleased to add to our mortgage range by introducing this new cashback deal,” said Martin Richardson, Leeds Building Society’s General Manager – Business Development.

“Many borrowers, particularly those who are remortgaging, are looking to minimise their costs around taking out a new home loan so a competitive rate, paired with a generous £1,000 cashback and the other benefits of this deal, makes an appealing combination.

“The product permits overpayments each year up to 10% of the loan, so the borrower could even start to reduce the amount owing on their mortgage straightaway by paying in their cashback on completion.”