Leeds Building Society reduces rates by up to 0.26% to help people onto and up the property ladder
02 January 2026
From Friday 2nd January 2026, Leeds Building Society will make reductions of up to 0.26% across its mortgage range to support first-time buyers, home movers, and mortgage holders coming to the end of their current term, along with the brokers supporting them.
With the aim of helping its members make savings on their monthly mortgage payments, the Society is making reductions on 169 products across its range of mainstream and interest only mortgages.
With the average property in the UK valued at £270,000[1], a first-time buyer with a 10% deposit[2] could expect to pay £1640 less on their annual mortgage payments, compared to the equivalent mortgage product in January 2025[3].
And for existing mortgage holders, the rate reductions will ease worries for those coming off fixed term products. UK Finance[4] estimates that 1.8 million fixed rate mortgages are due to expire in 2026, so these reductions will come as welcome news for those mortgage holders.
Featured Products:
2-Year Fixed Rate – Available up to 75% LTV
- Available to first time buyers, home movers, and those remortgaging
- Fixed rate of 3.99% (was 4.08%)
- £0 fees
- Free standard valuation up to £999
- Fees assisted in-house legal service for re-mortgages
2-Year Fixed Rate – Available up to 95% LTV
- Available to first time buyers
- Fixed rate of 4.65% (was 4.79%)
- £0 fees
- Free standard valuation up to £999
3-Year Fixed Rate – Available up to 90% LTV
- Available to first time buyers, home movers, and those remortgaging
- Fixed rate of 4.39% (new product)
- £0 fees
- Free standard valuation up to £999
- Fees assisted in-house legal service for re-mortgages
3-Year Fixed Rate – Available up to 95% LTV
- Available to first time buyers and home movers
- Fixed rate of 4.82% (was 4.86%)
- £0 fees
- Free standard valuation up to £999
5-Year Fixed Rate – Available up to 65% LTV
- Available to first time buyers
- Fixed rate of 3.80% (was 3.87%)
- £1,999 fee
- Free standard valuation up to £999
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.”
David Hollingworth, Associate Director at L&C Mortgages, added:
“The new year is a time when potential movers and first-time buyers will be looking forward as they make plans for the year ahead. The same goes for those coming to the end of a current deal, so these rate improvements by Leeds BS will set a welcome tone for borrowers.
Positive cuts are being made right across the range and across the loan to value spectrum. That should help to build borrowers’ confidence and gives an early boost to the options available to brokers and their customers.”
