"Throughout January, we saw a 6% increase in applications by first-time buyers versus the same month last year, which suggests that consumer confidence is increasing."
- Jonathan Thompson, senior products and pricing manager
Leeds Building Society has announced a further round of rate reduction on products across its mortgage range.
The Society has reduced rates by up to 0.32% across 27 products, following a series of rate cuts since the start of the new year.
The changes affect standard residential mortgages, the Society’s Reach mortgage range and shared ownership products.
Highlights include a residential five-year fixed rate at 95% LTV, down by 15bps to 4.93% with no completion fee and a free valuation.
A two-year shared ownership fixed rate at 90% borrower share has reduced to 5.14% with no completion fee and free valuation.
Leeds Building Society says it saw a record number of mortgage applications in January, with the first month of 2024 seeing the most applications since the previous record in March 2023.
Jonathan Thompson, senior products and pricing manager at Leeds Building Society, said: “Our purpose is to put homeownership within reach of more people, and the changes we’re making on our mortgage rates will enable more people to take their first step onto, or next step up the property ladder.
“Throughout January, we saw a 6% increase in applications by first-time buyers versus the same month last year, which suggests that consumer confidence is increasing.
“We are particularly pleased to be able to offer our members even better value on our shared ownership mortgage range, a tenure which we see as a crucial part of the housing mix and a vital route for many aspirational homeowners to get onto the property ladder.”
