The updated rates will be available from today.
The Bank of England’s Monetary Policy Committee is due to meet on 8 May, with consensus from experts being that it will cut the base rate to 4.25%.
Examples of rate cuts include its residential two-year fixed rate at 65% loan to value (LTV), which is priced at 4.07%. The deal comes with a £1,499 fee payable upon completion.
The lender’s no-fee two-year fixed rate at 65% LTV is priced at 4.34% and the fee-free residential two-year fixed rate at 75% LTV is 4.44%.
The products come with a free standard valuation, a fees-assisted in-house legal service for remortgages, tapered early repayment charges (ERCs) and 10% penalty-free capital over repayment allowed each year.
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Jonathan Thompson, senior product and pricing manager at Leeds Building Society, said: “The changes we have made to our mortgage range today will hopefully go some way to alleviating the pressure on homeowners who are coming towards the end of their fixed-term rate.
“We’ve implemented these changes to give brokers, buyers and homeowners greater choice as rates drop across the market, and we continue to assess our range of products in support of new and existing members.”
Leeds Building Society recorded £5.7bn in gross mortgage lending in 2024, which is up from £4.4bn in the previous year.
In an interview with this publication, Richard Fearon, Leeds Building Society’s CEO, said it was looking at growing its first-time buyer lending and investing in technology, and it also backs affordability reform.
