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Leeds Building Society cuts mortgage rates to aid buyers

EditorEmilio Ghigini
Published 18/01/2024, 11:54
© Reuters.

LONDON - Leeds Building Society has unveiled cuts to its residential mortgage rates today, in a move aimed at supporting both existing homeowners and individuals looking to step onto the property ladder for the first time. The rate reductions average around 0.37% and come as part of the society's efforts to make home ownership more affordable.

Key highlights of the new mortgage offerings include:

  • A two-year fixed-rate mortgage now at 4.43%, available for up to 65% loan-to-value (LTV) with a £999 fee.
  • A five-year fixed-rate mortgage designed for shared ownership, set at 5.26% for up to 95% LTV, accompanied by a free valuation for applicants.

The rate cuts are expected to be particularly beneficial to first-time buyers, who often face significant barriers when attempting to purchase their first home.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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