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Leeds chops fixed mortgage rates

Leeds chops fixed mortgage rates
Christina Hoghton
Written By:
Christina Hoghton
Posted:
22/05/2024
Updated:
22/05/2024

Leeds Building Society has reduced mortgage interest rates across its range.

The mutual said the rate cuts of up to 0.20 percentage points have been made to reduce the cost of monthly mortgage payments for new borrowers.

The cuts have been made across a selection of products at 75% and 90% loan to value (LTV) and the lender has also introduced new 95% mortgage options for those with a five per cent deposit.

Jonathan Thompson, senior product and pricing manager at Leeds Building Society, said: “We have reduced rates on existing residential two-year fixed rate mortgages by up to 0.20 percentage points and have expanded the choice available to borrowers with the introduction of a new fee-free five-year fixed rate at 95% LTV.

“By reducing interest rates in a dynamic mortgage market and in turn bringing down the cost of monthly mortgage payments, we are putting the interests of our members first and delivering on our purpose to put home ownership within reach of more people.”

What’s new?

Highlights of the building society’s new range include:

• A purchase-only two-year fixed rate of 5.14% up to 85% of the property’s value, with a £999 fee and free standard valuation fee
• A fee-free two-year fixed rate (maximum 75% of the property’s value) at 5.04%, with a free standard valuation
• A five-year fixed rate (maximum 95% of the property’s value) at 5.39%, with a free standard valuation.