Leeds Building Society cuts fixed mortgage rates – The Intermediary

Leeds Building Society has introduced a wave of rate cuts for a range of fixed rate products.

From Monday (8 July), selected residential rates will be reduced by up to 0.15%, shared ownership by up to 0.20% and buy-to-let (BTL) company rates by up to 0.50 %.

In addition, the company will also introduce new product launches, including new 2- and 3-year residential mortgages at 65%, 75% and 85% loan-to-value (LTV).

Jonathan Thompson, senior mortgage manager at Leeds Building Society, said: “Last week the Bank of England released its half-yearly Financial Stability Report, which warned that more than three million borrowers could face shock increases in payments mortgage in the next two years.

“We hope that the changes we have made to our range of mortgages will ease the pressure on homeowners who are nearing the end of their fixed rate.

“For aspiring first-time buyers, we hope the rate cuts we’ve made will help draw them closer to home ownership and we’re delighted to be adding new standard residential mortgage and shared ownership products to the range Our.

“We have implemented these changes to provide brokers, buyers and homeowners with more options as rates fall in the market and we continue to evaluate our product range in support of new and existing members.”