Leeds Building Society’s three-year fixed rate mortgage at 85% LTV has been reduced from 3.89% to 3.79%.

Meanwhile, the rate available up to 75% LTV has been cut by 0.31 basis points to 2.94%.

There is no higher lending charge and the mortgage is fully portable.

Kim Rebecchi, Leeds Building Society’s sales and marketing director, said: “The Society has reduced rates by up to 0.31%, and now has a market leading three-year mortgage from 2.94%.

“This provides a fantastic opportunity for those borrowers who wish to take away any uncertainty, on what is usually a household’s biggest monthly outgoing, and lock into low fixed repayments. It provides customers with peace of mind and the security that their monthly payments will remain the same for three years at a very affordable rate.

“Furthermore, the mortgage is also fully portable, so should customers wish to move home, they can take this market leading product with them without penalty.”

The Society has also cut the rates on the fees assisted versions by 0.31 and 0.10 basis points up to 75% and 85% LTV respectively. There are now fees assisted versions of these three-year products, with free valuations and legal services for standard re-mortgages, at 3.44% up to 75% LTV and at 4.29% between 76% and 85% LTV.