Leeds Building Society has further reduced interest rates on products across its mortgage range, implementing reductions of up to 0.32% across 27 products.
The changes affect standard residential mortgages, the society’s Reach mortgage range, and its Shared Ownership offering.
Highlights include a residential 5-year fixed rate up to 95% loan-to-value (LTV) at 4.93%, which was 5.08%.
This product comes with no completion fee, free standard valuation, tapered early repayment charges (ERCs) and a 10% penalty free capital over-repayment allowed each year.
A 2-year fixed rate Shared Ownership product is also now available, with up to 90% Borrower Share at 5.14% (was 5.19%), no completion fee, free standard valuation, tapered ERCs, and a 10% penalty free capital over repayment allowed each year.
Jonathan Thompson, senior products and pricing manager at Leeds Building Society, said: “Our purpose is to put homeownership within reach of more people, and the changes we’re making on our mortgage rates will enable more people to take their first step onto, or next step up the property ladder.
“Throughout January, we saw a 6% increase in applications by first-time buyers versus the same month last year, which suggests that consumer confidence is increasing.
“We are particularly pleased to be able to offer our members even better value on our Shared Ownership mortgage range, a tenure which we see as a crucial part of the housing mix and a vital route for many aspirational homeowners to get onto the property ladder.”
