Leeds Building Society cuts rates by up to 0.74%
Leeds Building Society are the latest mainstream lender to reduce mortgage rates, with cuts of up to 0.74% for landlords. Newspage asked brokers for their views, below.
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Yet more significant rate cuts from a High Street lender, with landlords the main beneficiaries this time round. Leeds has certainly shown its teeth with this aggressive re-price and is clearly keen to lend more in 2025.
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It’s great when the big lenders make chunky cuts, but when the building societies join in it is another boost for borrowers. These lenders serve the quirkier cases and often help people that need it most, so lower rates with lenders like Leeds mean the reductions are far reaching and more borrowers are catered for.
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After all the glee for owner occupiers, we finally get some much-needed good news of significant rate cuts for landlords. It comes at a time when a relentless doom and gloom hangs over the sector. Anything to help the pressured Private Rental Sector is a bonus. Higher mortgage rates have a direct knock-on effect on the rents payable by tenants, too, so this is much needed.
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Rate cuts for landlords could benefit their tenants, who may be the first-time buyers of the future. Many landlords have been forced to pass on recent rate hikes to their tenants but if pricing eases there could be multiple winners.
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Leeds Building Society’s latest rate cuts are a welcome boost for landlords, with buy-to-let mortgages seeing the largest reductions—up to 0.74%. With landlords facing sustained cost pressures in recent years, this move helps ease the financial strain and could, in turn, benefit tenants by stabilising rents. At a time when affordability is a key concern across the housing market, this is a positive step that may encourage further competition among lenders.