Following the Bank of England’s decision to keep the base rate at 5.25%, Leeds Building Society has reduced rates on selected mortgage products.
The updated rates include a 2-year fixed-rate mortgage at 5.23% for a 75% loan-to-value (LTV) ratio with a £999 fee and a term ending on 28th February 2026. Another offering is an 80% LTV 2-year fixed-rate mortgage at 5.60%, also with a £999 fee and the same term period.
Sean Hanson, senior mortgage manager at Leeds Building Society, shared his perspective on the rate hold and its implications: “The Bank of England’s decision yesterday to hold interest rates will come as good news for homeowners and those looking to step onto the property ladder.
“Despite rates staying flat, we are pleased to be able to make further rate reductions to support first-time buyers and borrowers who are coming towards the end of their current mortgage term.”
With assets of £26.9bn as of 30th June 2023 and its roots in Leeds since 1875, Leeds Building Society is the UK’s fifth-largest building society.
