The Leeds Building Society has but the rate on its two-year fixed rate mortgage by 0.41 basis points to 2.54%, available up to 75% LTV.

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

The version available between 76% and 80% LTV has seen a 0.35 basis point reduction, and is now priced at 2.94%.

“We are delighted to have made these rate reductions to offer market leading deals, and provide a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments,” said Kim Rebecchi, sales and marketing director.

“These products deliver customers with the peace of mind and security that their monthly payments will remain the same for two years.”

The mutual has also lowered rates on the ‘fee assisted’ offers. It has cut the rate on the version available between 76% and 80% LTV by 0.59 basis points to 3.30%. This is in addition to reducing rates by 0.35 basis points to 3.10% up to 75% LTV, and by 0.21 basis points to 3.94% available between 81% and 85% LTV.

Rebecchi added: “These offers are ideal for re-mortgages, offering free standard valuations and free in-house legal services for standard re-mortgages, together with reduced fees.”