Leeds Building Society has reduced rates across its fixed rate mortgage range, while Furness Building Society has also announced reductions to fixed-rate home loans on it landlord and residential ranges.
Starting with Leeds, rates have been reduced by up to 35bps and is applicable to new borrowers and those remortgaging.
Rates will now start at 4.09% for a five-year fix, which is down from the original rate of 4.44%. It comes with a completion fee of £999 and is available up to 75% LTV.
Other changes include a three-year fix available up to 75% at 4.60%, formerly 4.85%, with no completion fee.
Leeds Building Society senior mortgage manager Jonathan Thompson says: “We’ve already made a number of cuts in rates across our mortgages over the past few weeks, but we continuously look to stay as competitive as possible.
“Our latest reductions relate to a range of purchase and remortgage products as we seek to support a variety of different types of borrowers to get the home they want or a better deal on an existing mortgage.”
Furness Building Society’s reductions include:
Two-year fixes at 5.99% at 95% LTV, down from 6.14%
Two-year fixes at 5.89% for up to 95% LTV, down from 6.14% (purchase only)
Five-year fixes at 4.54% at 80% LTV, down from 4.74%
Five-year fixes at 5.29% at 95% LTV, down from 5.64%
Selected residential products will come with a £999 fee, which can be added to the loan or paid upfront.
All buy-to-let products have also been reduced by 20bps, which covers regulated, unregulated and consumer BTL products up to 80% LTV, as well as holiday let deals up to 75% LTV.
Furness Building Society head of member & broker strategy Jonathan Cartlidge says: “While maintaining our competitive edge, it’s important to highlight that we do not use credit scoring.
“Instead, each case is carefully reviewed by an experienced underwriter, enabling us to handle complex cases with a flexible and personalised approach.”
