Leeds Building Society is reducing rates across several of its mortgage ranges by up to 0.40% from 10 July 2025. The rate cuts will apply to residential, first-time buyer, shared ownership, buy-to-let, portfolio buy-to-let, and interest-only products.
The lender's revised products include both fee-free options and additional borrower incentives.
The society's 5-year fixed rate residential mortgage, available until 31 October 2030, has been reduced by 0.30% to 4.94%. This product offers up to 95% loan-to-value (LTV), includes no completion fee, a free standard valuation, and fees-assisted in-house legal services for remortgages. Borrowers can make up to 10% in penalty-free overpayments annually, and tapered early repayment charges apply.
The first-time buyer 3-year fixed rate, now available at 5.18% following a 0.40% reduction, also supports lending up to 95% LTV. This option, available until 31 October 2028, includes a free standard valuation and no fee at completion. Like the residential product, it allows 10% penalty-free capital overpayments each year and features tapered early repayment charges.
The lender has also lowered the rate on its Income Plus 5-year fixed rate product to 4.99%, a 0.30% reduction. The mortgage, which is available until 31 October 2030, supports up to 85% LTV and comes with no completion fee, a free standard valuation, and the same flexible overpayment terms and repayment structure.
For those purchasing through shared ownership, the society is now offering a 2-year fixed rate product at 5.12%, following a 0.07% cut. This mortgage is available until 31 October 2027 and allows borrowing up to 95% of the borrower’s share. It includes a £500 cashback incentive, no fee at completion, a free standard valuation, and permits 10% penalty-free overpayments each year, with tapered early repayment charges in place.
“We hope these changes will ease the pressure on homeowners nearing the end of their fixed-term deals, whilst also supporting first-time buyers,” said Jonathan Thompson, senior product & pricing manager at Leeds Building Society. “We’re especially pleased to be reducing rates on our Income Plus products which enhance affordability for first-time buyers, and we remain committed to supporting members with a competitive and comprehensive product offering.”
