Leeds Building Society has launched a new two-year discount mortgage at 2.54%, available up to 70% LTV.

There is a £199 booking fee, while there is a £2,800 completion fee up to £500,000, 1.00% over £500,000.

It allows 10% capital repayments each year and there is no higher lending charge.

Martin Richardson, Leeds Building Society’s general manager marketing and business development said: “We expect this impressive new product to be popular due to the combination of both a low interest rate and a flat completion fee.