Leeds Building Society has launched a 1.99% 5-year fixed rate mortgage to 65% loan-to-value with £1,000 cashback.
The product comes with a £1,499 completion fee but includes a free valuation and is portable.
Jaedon Green, Leeds Building Society’s director of product and distribution, said: “The market-leading rate on this five year deal is made even more attractive by the £1,000 cashback.
“Across our range we offer a choice of fee and incentive packages and cashback deals are proving very popular at the moment.
“Fixed rate mortgages remain the choice of the majority of borrowers but, as recent political upheaval continues to be reflected in ongoing economic uncertainty, more may seek the security of a longer-term deal.
“Last month we launched a flexible 10-year fixed rate mortgage at 2.75% with no ERCs (early redemption charges) after five years, which offers even longer-term stability.
“This gives the security of a 10 year fix but the option to redeem without penalty after five years to remortgage or pay off the loan.”