The new product allows the flexibility of ten per cent capital repayments each year and there is no higher lending charge .
According to the provider, the product is ideal for re-mortgages because it offers a free valuation up to ?335 as well as free in-house legal services for standard remortgages .
Kim Rebecchi, Leeds Building Society's Sales and Marketing Director, remarked, "This mortgage at only 2.80 per cent offers good value, particularly when combined with the flexibility of ten per cent capital repayments each year without penalty and no higher lending charge.
"Furthermore, the product is fully portable so if customers do wish to move during the term they can take the mortgage with them."
This comes after Santander announced that it is to launch a new competitive two-year tracker mortgage available exclusively to existing current account customers.?
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