Leek Building Society Updates 5-Year 90% LTV Fee-Free Mortgage: What UK Borrowers Need to Know

Leek Building Society’s 5-Year 90% LTV Fee-Free Mortgage Rate Increases: Key Details for UK Homebuyers

Leek Building Society has announced an important update to its popular 5-year fixed rate residential mortgage at 90% loan-to-value (LTV). Effective from 18 September 2025, the interest rate on this fee-free product will increase, impacting new applicants seeking high LTV borrowing. UK homeowners and first-time buyers exploring low-deposit options should take note of these changes and how they affect affordability and product suitability.

Updated Mortgage Rate: 5-Year Fixed, 90% LTV, Fee-Free

• Interest Rate: 4.58% fixed for 5 years
• Maximum Loan-to-Value (LTV): 90% (borrow up to 90% of your property’s value)
• Arrangement Fee: Fee free – no product or completion fees
• Valuation: Free standard property valuation included
• Repayment Types: Both repayment and interest only options available (subject to lender criteria)

This rate adjustment brings Leek Building Society in line with current market trends for fee-free, high LTV products, remaining highly competitive for borrowers with smaller deposits.

Eligibility and Lending Criteria Changes

• Credit Assessment: Credit search only (the lender does not use automated credit scores, allowing for more flexible assessments)
• Applicant Profile: Suitable for first-time buyers and home movers using a 10% deposit
• Property Types: Standard residential properties (specialist requirements may not apply)

The shift to a “credit search, not credit score” policy may benefit applicants with non-standard credit histories, giving Leek Building Society added flexibility compared to some mainstream banks.

Special Features: Fee-Free Borrowing and Flexible Repayment

• Zero Fees: No product, arrangement, or completion fees, keeping upfront costs minimal
• Interest Only or Repayment: Offers adaptability for those seeking lower monthly outgoings (interest only), or equity building (repayment)
• Free Valuation: Reduces costs associated with securing the mortgage

These features make the product attractive to budget-conscious buyers and those wanting to minimise initial expenses.

Who Should Consider This Leek Building Society Mortgage?

• First-Time Buyers: Especially those with a 10% deposit looking for predictable repayments over the medium term
• Home Movers: Seeking to upscale or relocate with a low-deposit solution
• Applicants with Thin or Non-Standard Credit Profiles: May find the credit search approach easier to navigate than stricter credit scoring systems

The fee-free structure and flexible repayment options stand out for those seeking transparent, manageable home financing in today’s evolving UK market.

Why Choose Leek Building Society?

• Transparent, No-Fee Structure: No product or arrangement fees reduce buyer costs
• Market-Competitive 5-Year Fix: Locks in certainty and stability for high LTV borrowers amid rate fluctuations
• Flexible Lending Criteria: ‘Credit search only’ can help a broader range of applicants
• Experience and Support: Leek Building Society is trusted and fully regulated, with approachable service

Leek BS remains a strong choice for UK borrowers seeking a personalised, straightforward mortgage experience—especially for those at the start of their homeownership journey.

Next Steps: Get Expert Mortgage Advice

If you’re considering applying for this Leek Building Society 5-year fixed, 90% LTV fee-free mortgage – or wish to discuss whether recent rate changes affect your plans – our fully qualified advisers are ready to help. Contact us today for personalised, whole-of-market mortgage advice.

FAQs: Leek Building Society 5-Year 90% LTV Fee-Free Mortgage

• Who qualifies for Leek’s 5-year 90% LTV mortgage?
  Applicants with at least a 10% deposit, suitable income, and acceptable credit (subject to a credit search, not a credit score) can apply.
• How will the rate change affect my monthly repayments?
  The new rate of 4.58% will result in higher monthly payments compared to the previous offer. Speak to our advisers for a tailored illustration.
• Is Leek’s mortgage suitable for interest only?
  Yes, this product is available on either interest-only or repayment terms (subject to meeting the lender’s criteria).
• Does the product include any upfront fees?
  No, this is a fee-free mortgage with no arrangement or completion charges and a free standard valuation.
• How do I apply or check my eligibility?
  Contact our team for a full review – we’ll assess your circumstances and guide you through the process step by step.