For first-time buyers, a two-year fix with no fee has been reduced from 5.59% to 5.27%. This is available up to 95% loan to value (LTV) and comes with a free standard valuation.
There is also a five-year fix at the same tier, which has fallen from 5.42% to 5.24%.
Across its fee-free homemover products with no fee and free valuation up to 95% LTV, the two-year fix has also been cut from 5.59% to 5.27% and the five-year fix from 5.42% to 5.24%.
Matt Bartle, director of products at Leeds Building Society, said: “We’re pleased to be reducing mortgage rates by up to 0.32% across our range. This will come as good news for first-time buyers with a smaller deposit saved and supports our purpose of putting homeownership within reach of more people, generation after generation.
“We’ve also reduced prices for home movers and those looking to remortgage at the end of their existing term, supporting borrowers at a time when affordability remains a key concern for many households.
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“These changes reflect our ongoing commitment to offering good value and helping more people achieve their homeownership goals or manage their existing mortgage more confidently.”
This week, Leeds Building Society introduced a £200 cashback offer to reward customer loyalty.
The Tipton trims BTL rates and adds high LTI deals
The Tipton & Coseley Building Society has made rate reductions of up to 0.22% across its mortgage range, with most focused on its expat buy-to-let (BTL) and limited company BTL products.
It has also reduced its arrangement fees.
For expats, the five-year fix at 80% LTV for new purchases has a rate of 5.68% and reduced fee of £900. The mutual has also added a two-year fix at 60% LTV to the range, priced at 5.82%.
For limited company BTL, the five-year fix at 80% LTV with a £900 arrangement fee has been reduced from 5.89% to 5.67%.
Further, the Tipton has added high income multiple mortgages up to 80% LTV for residential purchase and remortgage. Rates start at 5.65% for a two-year didscount and there is no arrangement fee.
The high income multiple products allow borrowing up to 6.5 times income, compared to the mutual’s standard five times income limit.
Becky Wheeler, head of product and sales operations for the Tipton & Coseley Building Society, said: “We are continuously looking to improve our offering for borrowers and ensure our mortgages remain competitive in what is a very fast moving and unpredictable market.
“These latest changes see us focus primarily on our BTL and high income multiple ranges, so we can provide brokers and their clients with plenty of choice.
“This sits along great service and an elevated user experience for brokers following the recent introduction of our online mortgage application portal.”
