Leeds Building Society has cut prices for borrowers with smaller deposits have been cut by up to 43 basis points, while Together has lowered rates across its personal, commercial and landlord loans by as much as 75bps.
Leeds Building Society says its Reach Mortgages are available to customers whose loans are greater than 75% loan to value across two-, three-, and five-year fixes.
Highlights include:
Reach residential two-year fix
- Fixed rate of 5.35%, from 5.66%
- No completion fee
- Available up to 90% LTV
- Free standard valuation
- Fees assisted in-house legal service for remortgages
- Tapered early repayment charges
- 10% penalty-free capital over repayment allowed each year
Reach residential five-year fix
- Fixed rate of 5.09%, from 5.28%
- £999 completion fee
- Available up to 95% LTV
- Free standard valuation
- Tapered early repayment charges
- 10% Penalty Free capital over repayment allowed each year
Leeds Building Society senior products & pricing manager Jonathan Thompson says: “The feedback received from brokers since we launched Reach Mortgages in December has been positive.
“The products offer solutions for those who may have otherwise faced the possibility of being turned down for a mortgage, and product features and the sales process are the same as with our standard mortgage products.”
Meanwhile, specialist lender Together has reduced rates by between 20bps and 75bps on many of its long and short-term products, both regulated and unregulated.
It says its first charge mortgage rates now start from 8.40% for a five-year fixed, from 8.85% – a cut of 45bps – on its Prime Plus range for clients without demerits.
The firm has also cut rates on its landlord products on both first and second charge loans.
Its five-year BTL fixes have been lowered 40bps to 7.59% and its second charge five-year fixes landlord products now start at 8.59%.
Together chief executive of sales and distribution Marc Goldberg says: “We are responding to improving conditions in lending markets after a great deal of turmoil over the last few years and are glad to be able to pass on reductions in our own cost of borrowing to our valued partners and their clients.”
