"As recent political upheaval continues to be reflected in ongoing economic uncertainty, more may seek the security of a longer-term deal."
Coventry for intermediaries is offering a rate of 1.84% up to 50% LTV, or 3.05% up to 90% LTV.
Leeds Building Society is offering a rate of 1.99% available up to 75% LTV.
Kevin Purvey, Director of Intermediaries at The Coventry, said: “We are delighted to be launching our lowest ever five-year fixed rate at just 1.84%, up to 50% LTV. And for clients with a lower deposit, we have a best buy rate of 3.05%, available up to 90% LTV for 5 years. With no product fee, this is ideal for brokers looking to keep their clients’ initial costs low. Plus, all of our products are application fee free and include a valuation of up to £670.”
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 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.”
