Leeds BS cuts residential and buy-to-let rates by up to 0.30%

Leeds Building Society has announced reductions to selected fixed rate products for homeowners, landlords and first-time buyers.

Rates have reduced by up to 30bps across selected two, three and five-year fixed rate mortgages.

In its residential range, a two-year fixed rate at 65% LTV has reduced to 4.60%, available for purchase and remortgage with a £999 fee, while a remortgage-only two-year fix at 85% LTV has decreased to 5.65% with no fee.

A three-year fixed rate remortgage product at 85% LTV has reduced by 30bps to 5.29%, while a five-year fix for purchases at 85% LTV is down to 4.65%, both fee-free.

All products come with a free standard valuation up to £999 and fees assisted in-house legal service for remortgages.

The Society has also launched a new five-year fixed rate limited company buy-to-let product at 5.39%, available up to 75% LTV with a £1,499 fee.

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.”