Leeds Building Society has cut the rate on its two-year fixed rate mortgage by 0.30 percentage points to 3.49%.

The product is available up to 75% loan-to-value, there is no higher lending charge and 10% capital repayments are allowed each year without penalty.

It comes with a £199 booking fee, while the completion fee is £800 up to £500,000 and 1% over £500,000.

“We are delighted to be able to cut the rate on this mortgage from 3.79% to 3.49%,’ said Phil Coombes (pictured), Leeds Building Society’s head of intermediary sales. “This is an excellent offer that allows clients to guarantee low payments for two years and benefit from the peace of mind this delivers.

“Many borrowers want to control their outgoings, and we know that certainty at an affordable rate will be popular. This is a strictly limited tranche and I would urge people to act quickly to avoid disappointment.”