Leeds Building Society has cut the rate on its two-year fixed rate mortgage by 0.15 percentage points to 2.09%.

It is available up to 65% LTV.

There is no higher lending charge and 10% capital repayments are allowed each year without penalty.

There are also versions available, at 2.49% up to 75% LTV, 2.99% between 76% and 80% LTV and at 3.85% between 81% and 85% LTV.

Phil Coombes, Leeds Building Society’s head of intermediary sales, said: “We are delighted to make rate reductions across our two-year fixed rate mortgage range, which presents a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments.

“The products deliver clients with the peace of mind and security that their monthly payments will remain the same for two years. This is combined with the flexibility of 10% capital repayments each year at a very affordable rate.”

The mutual has also reduced the rates on the ‘fees assisted’ version of this product by 0.40 percentage points to 2.59% available up to 60% LTV, and by 0.35 percentage points to 2.79% up to 75% LTV. They offer free standard valuations and free in-house legal services for standard re-mortgages, together with reduced fees.

There are also fees assisted versions on offer, following reductions in rate of 0.30 percentage points, at 3.29% up to 80% LTV and 3.99% up to 85% LTV.

Coombes added: “Many clients will welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage clients who may be coming to the end of their current deal.”