Leeds Building Society will cut selected residential fixed-rate loans across 75% and 90% loan-to-value deals by up to 20 basis points.

Highlights of the lender’s reductions, which come to market tomorrow (22 May), include:

• Two-year fixes from 5.14% up to 85% LTV
• Five-year fixes from 5.39% up to 95% LTV

The mutual also introduces fee-free offers for two-year fixes, up to 75% LTV, and five-year terms, up to 95% LTV.

Leeds Building Society senior product & pricing manager Jonathan Thompson says: “We have reduced rates on existing residential two-year fixed rate mortgages by up to 20bps and have expanded the choice available to borrowers with the introduction of a new fee-free five-year fixed rate at 95% LTV.”

“By reducing interest rates in a dynamic mortgage market and in turn bringing down the cost of monthly mortgage payments, we are putting the interests of our members first and delivering on our purpose to put home ownership within reach of more people.”