Leeds Building Society makes mortgage rate reductions of up to 35bps
28 August 2025
Leeds Building Society is reducing rates across its Residential and First Time Buyer mortgage ranges by up to 35bps from tomorrow, Friday 29th August, as well as also introducing new products for first time buyers at both 90 and 95% LTV.
These products are the latest in a series of updates the Society has made to support first-time buyers, including reducing the household income needed to borrow more than 4.5 times annual income from £40,000 to £30,000.
The lowered minimum income level of £30,000 applies to all the Society’s residential First Time Buyer products, including 5% deposit mortgages. It also applies to its Income Plus range, which is designed to support first time buyers by allowing up to 5.5 times the applicants annual income.
The new product rates announced today will be further welcome news for brokers, homeowners who are looking to renew their mortgage, those who are moving house, and first time buyers alike.
Product highlights:
Income Plus 5-year Fixed Rate up to and including 30/11/2030 (New)
- Fixed rate of 4.94%
- £999 fee payable upon completion
- Available up to 95% Loan to Value
- Free Standard valuation
- Tapered Early Repayment Charges
- 10% Penalty Free capital over repayment allowed each year
First Time Buyer 2-year Fixed Rate up to and including 30/11/2027 (-35bps)
- Fixed rate of 3.99%
- £1499 fee payable upon completion
- Available up to 80% Loan to Value
- Free Standard valuation
- Tapered Early Repayment Charges
- 10% Penalty Free capital over repayment allowed each year
First Time Buyer 2-year Fixed Rate up to and including 30/11/2027 (-9bps)
- Fixed rate of 4.89%
- £0 fee payable upon completion
- Available up to 95% Loan to Value
- Free Standard valuation
- Tapered Early Repayment Charges
- 10% Penalty Free capital over repayment allowed each year
Residential 2-year Fixed Rate up to and including 30/11/2027 (-10bps)
- Fixed rate of 4.05%
- £0 fee payable upon completion
- Available up to 65% Loan to Value
- Free Standard valuation
- Free Assisted Legals
- Tapered Early Repayment Charges
- 10% Penalty Free capital over repayment allowed each year
Jonathan Thompson, Senior Product & Pricing Manager at Leeds Building Society, said:
“At Leeds Building Society, we’re committed to putting homeownership within reach of more people. The new and competitive rates we’ve launched today will do exactly that, supporting both home movers and fist time buyers to purchase their dream homes.”
