Leeds Building Society cut rates on its five-year fixed rate mortgages at 80 per cent and 85 per cent loan-to-value on Friday.
Rates were cut from 3.39 per cent to 3.34 per cent at up to 80 per cent LTV, and from 3.99 per cent to 3.79 per cent at up to 85 per cent LTV.
The society will also offer a fee-assisted five-year fixed-rate mortgage up to 85 per cent LTV, reduced from 4.14 per cent to 3.99 per cent.
This comes with a £199 fee, free standard valuation up to £335 and fees-assisted legal services for standard remortgages.
Martin Richardson, general manager of business development for Leeds Building Society, said: “With speculation growing about when the base rate will finally begin to rise again, we’re seeing steady interest in longer-term fixed-rate mortgages.”
Adviser View
Dale Jannels, managing director of All Types of Mortgages, said: “Swap rates are low and the market is in the middle of a very proactive rate price war. The 80 to 85 per cent LTV long-term fixed-rate market is incredibly competitive, so it is always welcoming to see any reductions which will ultimately be to the benefit of the end consumer.”
