Leeds Building Society has lowered rates on selected fixed rate mortgages by up to 30 bps, while LendInvest has introduced its lowest BTL mortgage rates of the year, starting from 3.69%
Leeds Building Society and LendInvest have both announced cuts to their mortgage rates, providing more affordable options for homeowners, landlords, and property investors in the UK.
Leeds Building Society has lowered rates on selected fixed rate mortgages by up to 30 bps.
The updated offerings include a 4.60% rate on a two-year fixed mortgage at up to 65% loan-to-value and a 5.65% rate on a similar product at 85% loan-to-value, down from 4.65% and 5.89%, respectively. Three-year and five-year fixed rate mortgages have also seen cuts, with the latter now available at a 4.65% rate up to 85% loan-to-value.
Additionally, Leeds Building Society has launched a new five-year fixed rate limited company buy-to-let product at 5.39% for up to 75% loan-to-value, aimed at brokers and intermediaries working with landlords who operate within a limited company structure.
The price of mortgages is dictated by a number of factors, and the expected cut in base rate which was announced earlier this month is good news for first-time and existing borrowers, as rates continue to decline across the market, according to Jonathan Thompson, senior mortgage manager at Leeds Building Society. As such, we are very pleased to be able to make some further cuts in support of new and existing borrowers.
Meanwhile, LendInvest has introduced its lowest BTL mortgage rates of the year, starting from 3.69%, with an additional discount of up to 10 basis points across its BTL range.
The new rates apply to products offering up to 80% loan-to-value and are available to individual landlords, limited companies, and those looking to incorporate. LendInvest’s offerings also cater to more complex property types, such as HMOs with up to 15 bedrooms and MUFBs with up to 10 units.
We are thrilled to introduce our lowest BTL rates of the year, which reflect our commitment to supporting landlords with the most competitive products available in the market, said Sophie Mitchell-Charman, commercial director at LendInvest. Our new mortgage rates are designed to provide immediate financial benefits to landlords, helping them manage their portfolios more effectively.