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.
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