One cuts rates by up to 30bps; the other now offers lowest BTL rate this year
Leeds Building Society and LendInvest have both announced reductions to their mortgage rates, providing more affordable options for homeowners, landlords, and property investors in the UK.
Leeds Building Society has reduced rates on selected fixed rate mortgages by up to 30 basis points (bps).
The updated offerings include a 4.60% rate on a two-year fixed mortgage at up to 65% loan-to-value (LTV) and a 5.65% rate on a similar product at 85% LTV, down from 4.65% and 5.89%, respectively. Three-year and five-year fixed rate mortgages have also seen reductions, with the latter now available at a 4.65% rate up to 85% LTV.
In addition, Leeds Building Society has launched a new five-year fixed rate limited company buy-to-let product at 5.39% for up to 75% LTV, 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 reduction in base rate which was announced earlier this month is good news for first-time and existing borrowers, as rates continue to drop across the market,” said Jonathan Thompson (pictured left), senior mortgage manager at Leeds Building Society. “As such, we’re very pleased to be able to make some further reductions in support of new and existing borrowers.”
Meanwhile, LendInvest has introduced its lowest buy-to-let mortgage rates of the year, starting from 3.69%, with an additional discount of up to 10bps across its buy-to-let range.
The new rates apply to products offering up to 80% LTV 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 houses in multiple occupations (HMOs) with up to 15 bedrooms and multi-unit freehold blocks (MUFBs) with up to 10 units.
“We are thrilled to introduce our lowest buy-to-let rates of the year, which reflect our commitment to supporting landlords with the most competitive products available in the market,” said Sophie Mitchell-Charman (pictured right), commercial director at LendInvest. “Our new mortgage rates are designed to provide immediate financial benefits to landlords, helping them manage their portfolios more effectively.”
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