Leeds Building Society has responded to its record start to the year by announcing additional reductions in mortgage rates. The initial cuts made earlier this month led to the busiest first working day of the year for the Society, as customers rushed to take advantage of the new lower rates.
Starting today, the Society is implementing further reductions across its mortgage range. These latest cuts are poised to benefit brokers, homeowners looking to renew their mortgages, and first-time buyers.
Among the updated products, the Society is offering a residential two-year fixed rate up to 30th April 2026 at a fixed rate of 4.43%, with a £999 fee, available up to 65% loan to value. This product includes free standard valuation, fees assisted in-house legal service for remortgages, tapered early repayment charges, and allows for 10% penalty-free capital over repayment each year.
Additionally, there is a residential two-year fixed rate up to 30th April 2026 at 5.49%, with no completion fee, available up to 95% loan to value. This product also offers free standard valuation, tapered early repayment charges, and the same 10% penalty-free capital over repayment annually.
For shared ownership, the Society has a five-year fixed rate up to 30th April 2029, set at 5.26%, with no completion fee, available up to 95% borrower share. Similar benefits, including free standard valuation and tapered early repayment charges, apply to this product as well.
Jonathan Thompson, senior product & pricing manager at Leeds Building Society, said: “Including the changes made two weeks ago, we’ve now cut rates on 68 products this month and introduced 10 new residential products.
“With an average reduction of 0.37%, these changes will take hundreds of pounds off the price of an average residential reversionary rate for those who are nearing the end of their current mortgage.
“We also hope these reduced rates will help many aspirational first-time buyers take their first step onto the property ladder.”
