Leeds Building Society has introduced further rate reductions to selected fixed rate mortgage products.
From today (Tuesday 13th August), rates will be reduced by up to 0.30% across selected 2-, 3- and 5-year fixed-rate mortgages.
For its 2-year fixed-rate mortgage available up to 65% loan-to-value (LTV), the rate has been reduced to 4.60% from the previous 4.65%.
This product comes with a £999 completion fee and is available for both purchases and remortgages.
It includes a free standard valuation up to £999 and offers a fees-assisted in-house legal service for remortgages.
In addition, Leeds’ 2-year fixed-rate mortgage available up to 85% LTV now has a reduced rate of 5.65%, down from 5.89%, and is exclusively available for remortgaging.
The product does not carry a completion fee and also includes a free standard valuation up to £999 and a fees-assisted in-house legal service for remortgages.
For the society’s 3-year fixed-rate mortgage available up to 85% LTV, the rate has been lowered to 5.29% from 5.59%.
This mortgage option, which is available only for remortgaging, does not have a completion fee.
It also offers a free standard valuation up to £999 and includes a fees-assisted in-house legal service for remortgages.
Additionally, its 5-year fixed-rate mortgage available up to 85% LTV now offers a rate of 4.65%, reduced from 4.84%.
This product is available exclusively for purchases and does not include a completion fee.
A free standard valuation up to £999 is provided as part of the offer.
Leeds Building Society also introduced a 5-year fixed-rate mortgage for limited company buy-to-let borrowers.
This product, available up to 75% LTV, offers a fixed rate of 5.39%.
It comes with a completion fee of £1,499 and is available for both new purchases and remortgaging
Jonathan Thompson, senior mortgage manager at Leeds Building Society, said: “The price of mortgages is dictated by a number of factors, and the expected reduction in base rate which was announced earlier this month is good news for first-time and existing borrowers, as rates continue to drop across the market.
“As such, we’re very pleased to be able to make some further reductions in support of new and existing borrowers.
“We are cautiously optimistic about the mortgage market and the changes made will give brokers, buyers and homeowners greater choice, and we continue to assess our range of products in support of new and existing members.”
