Leeds passes on full 0.25% cut to borrowers
Leeds Building Society is reducing its standard variable rate (SVR) mortgage by 0.25% with effect from 1st September 2016.
Bank of England tracker mortgage rates will reduce automatically in accordance with their terms and conditions.
“After considering the impact of yesterday’s Bank of England Monetary Policy Committee announcement on variable rate products, we have decided to pass on the 0.25% cut in full to those mortgage customers on our SVR,” said Richard Fearon, Leeds Building Society’s Chief Commercial Officer.
“In addition homeowners with a tracker mortgage will benefit from lower monthly repayments automatically.”