Leeds Building Society has launched a new 10-year fixed rate mortgage highly competitive rate of only 4.99%.

The mortgage has no higher lending charge, is available up to 90% loan to value and allows 10% capital repayments each year without penalty. There is also a fee free version for customers who require help with fees.

Karen Wint, Head of Marketing & PR said, “With market commentators predicting a rise in bank base rate next week and potentially further increases next year, a 10-year fixed rate under 5% offers outstanding value. This product delivers long term peace of mind combined with the flexibility to pay 10 per cent capital repayments each year without penalty. It is also fully portable, so customers can continue to benefit when they move home.

“It is clear that customers want to lock in good value but still have the re-assurance of the right advice and good service at a potentially stressful time.”

Leeds Building Society’s commitment to customer service has been recognised in the new Lending Excellence Awards (LEX) awards launched by Lending Strategy magazine. The awards measure customers’ opinions of their mortgage providers by asking them to define their expectation of service in the key areas of the process and to comment on their actual experience. The independent national consumer survey of 7,800 customers who have recently taken out a mortgage named Leeds Building Society as a Gold Award winner.

The research company which undertook the project said ” The mortgage application process is a defining experience for the customer. It sets the standard against which the customers establish their opinion of the mortgage provider. Lenders who ease this process by ensuring that customers are treated honestly, transparently and efficiently at this point in the embryonic relationship are more likely to establish long- term customer loyalty” .

Karen Wint continued “We are delighted to have received this Gold Lending Excellence award based on customers’ actual experiences. The combination of helpful advice offered through our branches and Call Centre with the overall service provided in mortgage processing centres has clearly made a difference to our customers. When this is added to the 1400 best buys mentions that Leeds Building Society has had in 2006 and products offering outstanding value and peace of mind like this 10-year fixed, we have a very compelling proposition for customers.”