Leeds Building Society will be reducing rates by up to 0.45% on its residential mortgages for purchases and remortgages across its 2- and 5-year fixed rate product range.
The new products will be available from 17th November.
Key product changes include a 2-year fixed rate, available up to 65% LTV at 5.19%, with £999 completion fee and free standard valuation.
The Society has also introduced a reduced 5-year fixed rate, available up to 85% LTV, at 5.24%.
This will include a £999 completion fee and a free standard valuation.
Matt Bartle, director of products at Leeds Building Society, said: “Housing is at its least affordable point since records began with the average home now costing over 9 times the average local wage compared to 3.5 in 1997.
“At Leeds, we have always stood firmly on the side of homeowners and first-time buyers, and we will continue to do everything we can as a lender to help them. “The recent, rapid interest rate rises following the September mini budget have been a hammer blow to many people and that’s why the cuts we have announced today will be very welcome news to many borrowers.”
