Leek Building Society Fixed Rate Mortgage Increases: Key Updates for Ltd Co Buy-to-Let & Shared Ownership Borrowers

Leek Building Society Announces Fixed Rate Mortgage Increases

Leek Building Society, a well-established UK lender known for specialist mortgages, has announced upcoming rate increases on selected fixed rate products. If you are considering a new application or remortgage via Leek, it’s important to review these changes, especially if you are a limited company buy-to-let investor or seeking shared ownership options.

What Are the New Rates and When Do They Apply?

• 2 Year Fixed Rate Ltd Co Buy-to-Let (BTL) at 75% LTV: Rate will increase to 4.93% from 16th September.
• 5 Year Fixed Rate Shared Ownership at 95% LTV: Rate will rise to 4.88% starting 17th September.

These increases bring Leek Building Society’s offerings in line with broader market movements, but the lender continues to be competitive among specialist and mutual providers for certain borrower types.

What’s Changing in Lending Criteria?

There are no further announced changes to lending criteria as part of this update; the core adjustment is to fixed interest rates. However, borrowers using a limited company (Ltd Co) for buy-to-let or seeking high loan-to-value (LTV) shared ownership financing should note these revised rates when planning their application.

Who Should Pay Attention to These Updates?

• Buy-to-Let Landlords (Ltd Company): Investors purchasing or remortgaging through a company structure with up to 75% LTV should budget for the 4.93% rate on new two-year fixed products.
• First-Time Buyers & Shared Ownership Applicants: Borrowers needing up to 95% LTV on a five-year fixed shared ownership mortgage will now see a 4.88% starting rate.

This may especially impact those who are timing their application to secure lower rates, so prompt action could be beneficial before these changes take effect.

Why Consider Leek Building Society?

• Specialist in Niche Mortgage Products: Leek is renowned for its flexible approach to both buy-to-let investors (including Ltd Co structures) and shared ownership borrowers.
• Personal Service: As a mutual, the Society is often praised for individual case assessments and customer support.
• Competitive Criteria: Despite these rate increases, Leek often provides solutions for applicants who may struggle with mainstream lenders due to their unique situations.

Act Now for Personalised Mortgage Guidance

If you fall into any of the affected categories, or are weighing up your mortgage options, now is the time to act. Our team of expert mortgage advisers can help you:

• Secure current rates before increases apply
• Review your eligibility based on updated product criteria
• Compare available products across all UK lenders for the optimal deal
• Navigate the application process smoothly, especially for specialist lending

Contact us today for tailored guidance and to discuss your best mortgage options before the new rates come into force.

Frequently Asked Questions (FAQ)

• Who qualifies for the Ltd Company Buy-to-Let product?
  This product is for landlords operating through a UK-registered limited company, seeking up to 75% loan-to-value. Usual underwriting applies, including rental stress testing.
• How does the rate change affect my monthly payment?
  If you apply after the rate increase, your fixed monthly payments will be based on the new higher rates, slightly raising your expected monthly commitment.
• Does Leek Building Society offer options for first-time buyers?
  Yes, especially through shared ownership products, now with a revised 4.88% five-year fixed rate at 95% LTV.
• How do I know if I qualify for the updated products?
  Our advisers can assess your individual situation and confirm eligibility for Leek’s current mortgage criteria, including company BTL or shared ownership.
• Can I lock in a rate before it increases?
  In many cases, yes — but you must act swiftly and provide all required documents to secure current terms before the official rate change dates.