The lender said that the new product can be ported to another property should the borrower wish to move during the fixed rate period.
It is the lowest ten-year fixed rate available on the market at 75% LTV, according to Moneyfacts.
The mortgage, which has an £845 product fee, is available for either house purchase or remortgage.
The intermediary-only lender, which is part of Yorkshire Building Society Group, has also made rate reductions across 75% and 85% LTV mortgages, including a two-year fix now available at 1.39% with a £845 fee. The mortgage is available to both house purchase and remortgage customers with a 25% deposit.
David Robinson, National Intermediary Sales Manager, said: “We have launched this new ten-year fixed rate mortgage in response to strong customer demand for a longer-term fix. Many borrowers are looking to make the most of the current record-low interest rate environment for as long as possible. Our new offering will give homeowners the security of knowing how much their mortgage repayments will be over the next decade, especially during this time of economic uncertainty.”
