Leek BS cuts residential rates by up to 0.64%

Leek Building Society has reduced rates across its residential mortgage range by up to 0.64%, and launched a new cashback product at 95% LTV.

The changes apply across Leek's two and five-year fixed rate 95% LTV range.

Alongside the rate reductions, the mutual has launched a new 95% two-year residential product at 5.99% with £400 cashback. 

Within its residential range, Leek has reduced its two-year fixed rate product with a £995 fee from 6.25% to 5.61%.

Five-year fixed rate products - one with a £995 product fee and the other offering £400 cashback – have reduced by 0.25%. The five-year fixed product with a £995 product fee has reduced from 5.89% to 5.64%, while the £400 cashback product has reduced from 6.07% to 5.82%.

Nikki Warren-Dean, head of intermediaries at Leek Building Society, said: “We know brokers are navigating a fast-moving pricing environment, so we want to take proactive steps to support them and their clients. While parts of the wider market are seeing upward rate pressure, we’re cutting rates across our residential range by up to 0.64% and introducing a competitive new 95% LTV cashback product. 

"These changes provide brokers with greater choice and value while helping more first-time buyers and home movers access the right mortgage solution."