Leeds Building Society has cut the rate of its 90 per cent loan to value (LTV) five-year fix and introduced a two-year fixed option to better serve low deposit borrowers and first-time buyers.
The two-year fixed, which will be available up to 95 per cent LTV, will have a rate of 3.65 per cent and has no product fee.
Meanwhile, five-year fix has seen a reduction of 0.05 per cent to 3.27 per cent.
The products come with a free standard valuation and the five-year fixed also has fees assisted legal services for standard remortgages.
Leeds Building Society launched two 95 per cent LTV products, a five-year fixed with a rate of 3.99 per cent and fee-free option at 4.09 per cent in April this year.
Leeds Building Society’s product director Matt Bartle (pictured) said: “We’re constantly reviewing and improving our mortgage range and the changes we’re making will assist those buyers with smaller deposits, so are ideally suited to people looking to take their first step onto the housing ladder.”
He added that its new two-year fixed with no product fee would be attractive to first time buyers looking to minimise their upfront costs.
He said the five-year fixed at 95 per cent LTV, which it introduced in April, was proving popular so far and as a consequence the mutual was improving its 90 per cent LTV at the same term.
Bartle noted: “When economic circumstances are uncertain, longer term fixes allow borrowers security of repayments so they can plan their budget knowing that what tends to be their largest monthly outgoing will remain unchanged for the term.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
