The lender will now offer a two-year fixed rate deal for 3.49%, available up to 75% loan to value (LTV).
The product includes no higher lending charge and permits up to 10% capital repayments each year without penalty.
A completion fee of £800 applies to properties worth up to £500,000, with fees at 1.00% over £500,000. A booking fee of £199 also applies.
Phil Coombes, head of intermediary sales at Leeds Building Society, said: “We are delighted to be able to cut the rate on this mortgage from 3.79% to 3.49%.
“This is an excellent offer that allows clients to guarantee low payments for two years and benefit from the peace of mind this delivers.
“Many borrowers want to control their outgoings, and we know that certainty at an affordable rate will be popular. This is a strictly limited tranche and I would urge people to act quickly to avoid disappointment.”