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Leeds BS cuts resi and shared ownership rates

  • 17/01/2024
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Leeds BS cuts resi and shared ownership rates
Leeds Building Society has lowered residential and shared ownership rates by up to 0.37 per cent.

It is the second batch of rate cuts Leeds has made this month, having kicked off the year with similar price drops.

Leeds Building Society said that it saw its busiest first working day of the year as a result as customers took advantage of lower rates.

Its residential two-year fixed rate at 65 per cent loan to value (LTV) is priced from 4.43 per cent with a £999 fee payable upon completion. There are also fee-assisted, in-house legal services for remortgages available.

The lender’s fee-free two-year fixed rate at 95 per cent LTV is priced at 4.59 per cent.

Leeds Building Society’s no-fee five-year fixed rate up to 95 per cent borrower share is 5.26 per cent.

The deals come with free standard valuation, tapered early repayment charges and 10 per cent penalty-free repayments allowed each year.

Jonathan Thompson, senior product and pricing manager at Leeds Building Society, said: “Including the changes made two weeks ago, we’ve now cut rates on 68 products this month and introduced 10 new residential products.

“With an average reduction of 0.37 per cent, these changes will take hundreds of pounds off the price of an average residential reversionary rate for those who are nearing the end of their current mortgage. We also hope these reduced rates will help many aspirational first-time buyers take their first step onto the property ladder.”

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