Leeds BS cuts residential rates by up to 0.18%

Leeds Building Society is reducing rates across its residential mortgage range by up to 18bps from Saturday 10th May, following Thursday’s Monetary Policy Committee meeting.

Highlights include a three-year fixed rate at 80% LTV, down by 18bps to 4.59% with no fee.

In addition, a five-year fixed rate at 65% LTV has reduced to 4.26% fee-free.

The products come with a free standard valuation, fee-assisted in-house legal service for remortgages, tapered early repayment charges, and 10% Penalty Free capital over repayment allowed each year

Jonathan Thompson, senior product and pricing manager at Leeds Building Society, said: “As the Bank of England has reduced the base rate, we’re making some changes to our mortgage range and reducing a number of our rates from today.

“We’ve implemented these changes to give brokers, buyers and homeowners greater choice as we anticipate further reductions in the market following the Monetary Policy Committee decision.”