The Leeds Building Society has made a 0.40 percentage point rate reduction on its 95% loan to value (LTV) mortgage.

The no-fee 2.84% two year fixed rate mortgage comes with a free standard valuation and a 1.25% discount at the end of the fixed rate period, for a further three years.

Matt Bartle, director of products at the Leeds Building Society, said: “Our 95% LTV mortgage has been designed with first time buyers in mind, and this latest rate reduction will be very appealing to those looking to get onto the property ladder this year.

“With no completion fee, and free valuation as standard, we’re helping to keep costs down at a time when every penny counts for prospective homeowners.

“There have been some signs of increased activity in the UK property market in recent months. Some analysts have suggested that an end to the uncertainty around Brexit may have been a factor for some first time buyers, and we’d also expect to see more market activity as we move towards spring.

“We understand the importance of affordable housing, which is why we’re always looking for ways to help buyers with smaller deposits, alongside Help to Buy and shared ownership mortgages, which complement our range of deals at higher LTVs.”