Leeds Building Society announces further rate reductions

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Leeds Building Society announces further rate reductions

Rates for two and three-year fixed mortgages have been reduced by up to 0.91 and 0.56 per cent respectively by Leeds Building Society.

Responding to market pressures, as well as increasing calls to raise the amount of lending available for potential homebuyers, the West Yorkshire mutual has also reduced the rates on fees-assisted versions of two-year products, including free valuations and legal services for standard remortgages.

"We are delighted to have reduced rates on our two and three-year range," said the lender's sales and marketing director Kim Rebecchi.

"In this historically low-interest rate environment, customers are looking for security, peace of mind and longer term value," she added, explaining that the new rates were in many cases market leading and the majority were highly competitive.

Research from the Post Office released last week claimed that over half (53 per cent) of all would-be first-time buyers believe they will never be able to get onto the housing ladder due to the increased amounts of finance needed for a deposit, combined with stagnant wages and high property prices.

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