Leeds Building Society Announces New Fixed Rate Reductions and Income Plus Mortgage Product – August 2025 Update

Introduction: Key Mortgage Product Updates from Leeds Building Society

Leeds Building Society, one of the UK’s leading mortgage lenders, has released its latest round of mortgage product updates effective August 2025. These updates impact new homebuyers, remortgagers, and existing customers, with selected fixed rates reduced, an innovative Income Plus mortgage launched, and improvements to product flexibility. This announcement ensures Leeds Building Society remains a competitive choice for UK borrowers seeking top mortgage solutions.

Latest Mortgage Rates and Product Changes

Borrowers will benefit from improved rate reductions and enhanced options across Leeds Building Society’s residential lending range. The following are the key highlights:

• Selected Residential fixed rates reduced by up to 0.20% for new lending.
• New Income Plus mortgage product introduced – targeting borrowers with non-traditional or multiple income sources.
• Some Residential fixed rates have increased – review your options with a broker to access the most suitable deals.
• Residential mortgage end dates have been extended – now running through to November terms instead of October.

Existing Customer and Remortgage Enhancements

• Selected fixed rates for existing residential borrowers reduced by up to 0.25%.
• New residential fee options now available to provide more cost-effective remortgaging paths.
• Product end dates for remortgage deals also extended to November.

For the most up-to-date fixed and tracker rate tables, visit our daily updated best-buy page.

Criteria & Lending Policy Updates: Income Plus Product and Increased Flexibility

The brand new Income Plus mortgage stands out for borrowers with complex or variable income streams, such as freelancers, self-employed professionals, or those with second jobs. By enabling multiple income types in affordability assessments, Leeds Building Society now offers:

• Greater inclusion for non-standard income applicants.
• Improved chances of mortgage approval for multi-income households.
• Continued support for both first-time buyers and home movers requiring income flexibility.

These changes reflect Leeds Building Society’s commitment to providing specialist lending solutions that adapt to evolving UK employment models.

Special Promotions and Deadlines

• Application urgency: These product changes apply to applications submitted before products are withdrawn at midnight, 7 August 2025.
• Rate switch timing: Rate switch applications for existing customers can be submitted eight full working days before the end of the month to start on the 1st of the next month.
• Refer a friend to Deal Direct Financial Solutions and receive a £30 Amazon voucher if they proceed with a mortgage.

Applicants are advised to submit all necessary documentation promptly, as lender criteria and rates can change rapidly and missing deadlines may risk your application or require a full re-submission.

Why Choose Leeds Building Society?

• Competitive fixed and tracker rates – with regular reductions to support homebuyers and remortgagers.
• Innovative lending for complex incomes through the Income Plus product.
• Accessible, enhanced criteria supporting diverse financial backgrounds.
• Trusted UK lender with FCA and PRA regulation, ensuring professional and transparent service.
• Clear upgrade paths for existing customers, offering more options at each remortgage step.

Conclusion & Next Steps

Leeds Building Society’s August 2025 changes demonstrate their ongoing commitment to leading the UK mortgage market in both competitive rates and lending flexibility. Whether you are a first-time buyer, remortgager, or seeking a mortgage with complex income, Leeds Building Society offers compelling solutions.

To take advantage of these new products or discuss your eligibility, contact our expert mortgage advisers on 02392 006428 today. We can help you find your best-fit mortgage, secure the best rates before withdrawal deadlines, and navigate lender criteria for a smooth application process.

Frequently Asked Questions (FAQs)

• Who qualifies for the new Income Plus mortgage from Leeds Building Society?Applicants with more than one income source, including self-employed, freelancers, or those combining salaried and secondary incomes, can qualify. A full affordability check applies.
• How do these rate changes affect my potential monthly repayments?Reductions of up to 0.25% will lower repayments for eligible borrowers, especially those fixing now. Speak to a broker for a tailored calculation.
• Are the product changes beneficial for remortgage customers?Yes, remortgage and rate switch customers get new fee options and lower fixed rates, plus flexibility for switching before product withdrawal dates.
• What happens if I don’t submit documents quickly?Delays may result in cancelled applications or missing out on current rates. Submit documents within 7 days for the best chance of securing an offer.
• How can I find out if I’m eligible for these products or current promotions?Contact our qualified advice team for a free assessment, explanation of criteria, and to check eligibility for latest Leeds Building Society mortgage offers.