This includes its residential two-year fix, which has been cut from 5.69% to 5.59%, available up to 95% loan to value (LTV). This has no fee and a free standard valuation.
There is also a five-year fix, cut from 5.54% to 5.42%, up to 95% LTV. This product has no fee and a free standard valuation.
Reductions have also been made to its shared ownership deals, with no fee, a free standard valuation and available up to 95% LTV. The two-year fixed rate has been cut from 5.69% to 5.44%, and the five-year fix from 5.64% to 5.29%.
Jonathan Thompson, senior product and pricing manager at Leeds Building Society, said: “We know affordability remains a key challenge for many borrowers, particularly those looking to get onto the property ladder for the first time.
“By reducing rates across both residential and shared ownership mortgages, we’re aiming to provide more options for a wide range of customers.”
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Principality BS adds self-employed mortgages
Principality Building Society has launched a range of mortgages for self-employed borrowers.
It has added two- and five-year fixed rates for Construction Industry Scheme (CIS) workers, at 65%, 75%, 85% and 90% LTV.
The mutual will assess affordability on annualised income payslips over 48 weeks, using six months of CIS payslips and the last three months of bank statements. Applicants must have at least six months of continuous CIS work, with no more than a six-week gap between contracts, and must have 12 months experience in a similar industry.
For limited company directors with one year of accounts, Principality Building Society has launched two- and five-year fixes from 65% to 90% LTV.
Applicants must have one year of accounts or an accountant’s certificate prepared by an appropriately qualified accountant, and recent accounts must not be older than 18 months.
Corresponding deals have also been launched for sole traders with one year’s tax calculations.
For sole traders, the mutual will accept an accountant’s certificate or one year’s HMRC tax calculations, the last year’s SA301 or an online tax assessment.