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Manchester Building Society has added a residential product and two buy-to-let long term fixed rates to its product range.

The residential deal is priced at 5.24% and is available up to 80% LTV with a £995 arrangement fee.

The interest rate can be fixed for a period set by the borrower at between 10 and 25 years.

The two buy-to-let products are a 5.74% interest rate for mortgages arranged on a capital repayment basis and an interest-only version at an interest rate of 5.99%. The products are available to 75% LTV and both have a low £749 arrangement fee.

Again, the fixed rate period can be set by the borrower at between 10 and 25 years.

“I am delighted to launch our long term fixed rates, an area of the market which is presently uncatered for,” said Chris Mitton, the Manchester’s market relationship manager.

“I believe that in this climate of economic uncertainty, many people are seeking the security of knowing what their future mortgage payments will be. The lion’s share of the market is currently dominated by short term fixed rates. Our long term fixed rate products offer an alternative for those seeking longer term peace of mind.

“I think the buy-to-let products will particularly appeal to investors seeking to hold their buy-to-let property over the long term, and want to lock in certainty of their funding costs for an extended period of time.”