Building society cuts mortgage prices

Mortgage prices have been reduced as part of a new year sale by Leeds Building Society, the lender has announced.

The cost of a number of its homeowner loans – including fixed-rate and first-time buyer options – have been cut, with rates for three-year fixed-rate deals now starting at 4.75 per cent for a 65 per cent loan-to-value (LTV) deal.

Those looking for a product with 85 per cent LTV can expect to pay 5.99 per cent interest, with all of the lender’s thee-year fixed-rate options carrying a completion fee of £999.

Leeds Building Society’s Karen Wint explained the new mortgages will give customers “peace of mind and flexibility”.

“The new year is a great time to sort out your finances and … I would urge customers to act quickly to secure a great deal,” she remarked.

Those looking to switch their mortgage as part of a debt management plan may wish to consider the new finance packages.

NatWest and the Royal Bank of Scotland have also introduced new fixed-rate mortgages, with interest rates being cut by up to 0.4 per cent.

By Tom Musk