The changes cover mainstream and interest only mortgages and are available to first time buyers, home movers and borrowers remortgaging at the end of a fixed term.
The society said the reductions aim to ease monthly mortgage costs for borrowers at a time when a large number of fixed rate deals are due to expire. UK Finance estimates that around 1.8 million fixed rate mortgages will come to an end in 2026.
Among the changes, Leeds Building Society has reduced rates on a two year fixed product up to 75% LTV to 3.99%, down from 4.08%, with no fees and a free standard valuation up to £999. The product is available to first time buyers, home movers and remortgagers.
A two year fixed rate up to 95% LTV for first time buyers has been reduced to 4.65% from 4.79%, also with no fees and a free standard valuation.
The lender has also introduced a new three year fixed rate at 4.39% up to 90% LTV, available to first time buyers, home movers and remortgagers. A separate three year fixed rate up to 95% LTV has been reduced to 4.82% from 4.86%.
At lower loan to values, a five year fixed rate up to 65% LTV has been reduced to 3.80% from 3.87%, with a £1,999 fee.
Jonathan Thompson, senior product manager at Leeds Building Society, said: "We are pleased to kick off the new year with good news for mortgage holders and aspiring buyers as we cut rates across nearly 170 products. This action supports our mission to put homeownership within reach of more people, generation after generation.
"As the cost of living continues to rise, we hope that cutting rates by up to 0.26% will have a tangible impact on our members, especially those who have been worrying about coming to the end of their current fixed term."
Rachel Springall, Finance expert at Moneyfacts, said:
"It’s positive to see Leeds Building Society start the New Year strong with rate cuts on higher loan to value products to support aspiring homeowners. Affordability remains a key issue for borrowers, so it’s fantastic to have rates reduced for buyers, particularly for those who only have a small deposit, it can make a huge difference."
