Leeds Constructing Society has lowered rates of interest on merchandise throughout its mortgage vary.
The mutual mentioned it has made the cuts to allow extra aspiring householders to get onto or transfer up the property ladder, and to assist these seeking to remortgage their current residence.
The lender has made reductions of as much as 0.32 share factors throughout 27 merchandise.
The modifications have an effect on commonplace residential mortgages, the Society’s Attain mortgage vary and Shared Possession merchandise.
Highlights of the brand new vary embody:
A fee-free residential five-year mounted fee at 4.39% as much as 95% of the property’s worth, and a fee-free shared possession two-year mounted fee at 5.14%, accessible as much as 90% of the borrower’s share of the property.
Jonathan Thompson, senior merchandise and pricing supervisor at Leeds Constructing Society, mentioned: “Our goal is to place homeownership inside attain of extra folks, and the modifications we’re making on our mortgage charges will allow extra folks to take their first step onto, or subsequent step up the property ladder.
“All through January, we noticed a six per cent improve in purposes by first-time consumers versus the identical month final 12 months, which means that client confidence is growing.
“We’re notably happy to have the ability to provide our members even higher worth on our Shared Possession mortgage vary, a tenure which we see as an important a part of the housing combine and an important route for a lot of aspirational householders to get onto the property ladder.”