"Borrowers have benefitted from many years of historically low rates but we’re now in a rising rate environment and they may want to lock in"
Leeds Building Society has reduced its fixed rate mortgages by up to 0.30%, with a 1.99% five-year fix at 90% LTV amongst the new rates.
Other highlights include a 2.24% fee saver five-year fixed rate available up to 85% LTV.
The reductions also include a cut of 0.30% on all fixed rate deals in the Society’s Holiday Let mortgage range. These come with a combination of fees, including no fee, as well as legal and valuation incentives.
Jaedon Green, Leeds Building Society’s Director of Product and Distribution, said: “Borrowers have benefitted from many years of historically low rates but we’re now in a rising rate environment and they may want to lock in to give themselves security on their monthly repayments.
“A lot of people start the New Year by reviewing their financial commitments, or deciding to move, and the ongoing economic uncertainty gives homebuyers and remortgagors an extra incentive to lock into a fixed rate now for the longer term.”