Latest news with #LeedsBuildingSociety
The Independent
30-07-2025
- Business
- The Independent
Building societies making bigger mortgages more accessible
Mortgage borrowers could find it easier to access bigger loans under changes announced by building societies. Both Leeds Building Society and Yorkshire Building Society have announced changes. Yorkshire Building Society has launched new higher loan-to-income (LTI) mortgage options for customers who apply direct to the lender. The new 'income lifter' offering will enable first-time buyers to borrow up to 5.5 times their income with a 5% deposit, if their household income is at least £50,000. Non first-time buyers can borrow at up to 90% LTV (loan-to-value), the society said. Earlier this month, the society reduced its minimum household income threshold for people borrowing up to five times their income, from £75,000 to £50,000. Ben Merritt, director of mortgages for Yorkshire Building Society, said: 'We know from experience that many people can well afford to borrow more than 4.5 times their income to secure their desired home, and now we can help more of them do just that.' Meanwhile, Leeds Building Society said it is lowering the minimum household income needed to borrow more than 4.5 times annual income. Joint or single applicants earning £30,000 per year will now be able to apply for a mortgage at that level with the lender. The amount has been reduced from £40,000. Earlier in July, it emerged that lenders could have the ability to offer more mortgages at high loan-to-income levels, if they choose to. The Bank of England said its Financial Policy Committee (FPC) had discussed the current operation of its LTI limits. The developments mean that individual lenders may choose to have more than 15% of their lending at a high LTI ratio. Different lenders will have different risk appetites. Leeds said the changes on minimum income include 5% deposit mortgages and its 'income plus' range which is designed specifically to support first-time buyers. Leeds Building Society's director of mortgages and savings, Matt Bartle, said: 'We welcomed the decision to consider allowing more high loan-to-income on a lender-by-lender basis and are very pleased to have gained the Bank of England's permission. 'Lowering our minimum income requirements brings the dream of homeownership a step closer for more borrowers, including many earning below national average earnings. 'We understand the importance of being a prudent and responsible lender. We carry out detailed affordability checks to make sure borrowers can realistically afford repayments and not over-extend themselves financially.' Applicants can make appointments direct with Leeds or apply through brokers.
Belfast Telegraph
16-07-2025
- Business
- Belfast Telegraph
Fraud clinic to launch in Belfast after more than £1.1bn lost to finance scams in UK
The free tutorials will be offered by Leeds Building Society and provide advice and services to equip those seeking to become homeowners with the knowledge needed to recognise a scam. The business' Cornmarket branch will provide the programme which consists of 30-minute sessions covering a range of different cons such as online banking and card fraud, scam emails and Authorised Push Payment (APP) fraud. Stephen Senior, Head of Financial Crime Prevention at Leeds Building Society, said the programme will provide people with the necessary knowledge to spot financial crimes. 'According to UK Finance, £1.17 billion was lost to fraud in 2024, a shocking figure and something we want to help to tackle,' he said. 'Through developing this educational programme, we hope to help our members and the general public feel more confident about how to protect themselves from financial crime, and give them the tools and knowledge to spot potential scams.' Fraudsters avail of a range of methods including social media, email, phone calls and text messages to swindle victims. Between November 1, 2023, and October 31, 2024, the PSNI received more than 5,200 reports of fraud, with the reported loss of £19m in the same period, according to figures from Action Fraud. News Catch Up - Tuesday 15th July In one instance, a victim lost over £50,000 in an online romance scam after believing they were helping with a business opportunity. Another target here was scammed of more than £100k in a bank impersonation scam where a person was called by someone claiming to be from their bank telling them there had been suspicious activity on their account, and asking for money to be moved into different accounts to keep it safe. Graham Binns, Leeds Building Society's Head of Branch Network, said he is 'looking forward to welcoming more people into our branches to share the knowledge our teams have learned, and help people in Belfast to feel more financially resilient.' The programmes will be launched across a number of the company's sites across the UK and follows trial sessions in five branches, including the Society's Swansea branch. Tracy McCauley, Customer Experience Manager at Leeds Building Society said: 'Our Swansea branch team recently received a call from a gentleman who attended a fraud clinic after a scammer had attempted to gain personal information from him through a text message claiming to be from a parking company. 'Putting the learning from the fraud clinic into action, he instantly knew it could be a scam and didn't click on the link. He reported the text message to colleagues in the branch to raise awareness and help protect others. 'Since attending the session he says he is more savvy to potential scams and feels more confident about his own financial security.'
The Independent
10-07-2025
- Business
- The Independent
Barclays launch new sub-4% mortgage to compete with best rates on market
The battle for new mortgage customers continues to see lenders trying to out-do each other amid slowly falling interest rates, with Barclays the latest lender to cut some products to sub-4 per cent. First-time buyers were also give a boost this week with news that Bank of England rules were being relaxed, allowing more deals to be handed out with a higher than usual loan to income ratio. A raft of cuts for both new mortgages and remortgage customers from the high street bank will come into effect from 11 July, with one highlighted by Barclays as being a joint-best on the market for two-year fixes. That specific product will offer a 3.83 per cent interest rate for two-year fix, with a £999 fee - though is only for a maximum of 60 per cent loan to value mortgage. TSB and Leeds Building Society have also launched sub-4 per cent deals this week. Even so, it is good news for homeowners and buyers to see big competition forcing rates down - though external factors mean some might consider a slightly longer term as the ideal length for a new mortgage deal, Peter Stimson, director of mortgages at MPowered Mortgages, told The Independent. 'At the moment, three-year fixed rates are a good option for borrowers,' Mr Stimson said. 'We call three-year fixed rates the 'goldilocks' rate: not too short and not too long, given the uncertainty over where interest rates are at the moment and where they could go to in the months ahead. 'Three-year fixed rates effectively give borrowers another year of stability and importantly takes us to almost the end of the Trump presidency and potentially into a more stable rate period.' Barclays have also announced five-year terms which offer sub-4 per cent rates, while two products for new purchases offered three-year fixes at only just over the 4 per cent mark. It follows the likes of Nationwide, HSBC and NatWest, among others, all offering sub-4 per cent deals recently. With an estimated 1.8m fixed rate mortgage deals ending in 2025, Mr Stimson said the battle between lenders and the longer-term uncertainty made it an ideal time for those looking at renewals to take the plunge. 'There is also still a lot of volatility in the markets which makes lenders' pricing challenging and it is difficult for them to price consistently for long periods, as the below graph shows. 'Two-year rates have consistently been falling since last year, but this has not been the case for five-year and ten-year swaps which have risen off the back of concerns over Government borrowing. 'Generally, now is in my view a good time to renew in my view. Future Bank of England rate cuts have already been priced into the swap curve and therefore mortgage rates. There is no certainty that mortgage fixed rates will continue to fall beyond where there are at the moment, with global economic uncertainty prompted by Trump's administration making it harder to predict future trends in mortgage rates.'
The Independent
26-06-2025
- Business
- The Independent
Building society's mortgage change could help some people borrow thousands more
Leeds Building Society is changing the way it assesses the affordability of a mortgage, potentially enabling some people to borrow more. Several lenders have made similar announcements about their stress-testing rules, following clarification from the Financial Conduct Authority (FCA). Stress tests help to ensure that a mortgage remains affordable for a borrower. Leeds said its changes from Friday will benefit borrowers buying their first house, moving up the property ladder, or remortgaging their existing home, with some applicants potentially able to borrow thousands of pounds more. Andy Moody, chief commercial officer at Leeds Building Society, said: 'We welcome the recent clarification on lending rules by the FCA which will allow us to support more people on to and up the property ladder and support the Government's plan for growth. 'Stress-testing requirements have unduly held some borrowers back from achieving their home ownership aspirations, so we are pleased to be able to lend up to £34,000 more to our customers as a result of these changes in affordability assessments. 'We continue to implement prudent affordability checks to allow us to continue lending responsibly.' The FCA has this week launched a discussion paper on mortgages, kicking off a 'public conversation' into the future of the market. First-time buyers, people borrowing into retirement and those who are self-employed could benefit from possible changes to mortgage rules. There are around 8.96 million regulated mortgages across the UK and 3.6 million renting households who aim to buy a home in the future, according to the FCA. Lending rules were toughened following the 2008 financial crisis. The regulator has said this has led to a more resilient market, with fewer borrowers in arrears and more than 99% of mortgages originated since 2014 being on track. Meanwhile Yorkshire Building Society announced it was reducing rates on its mortgage range. Its new deals include a two-year fixed-rate for home purchase at 3.92% (previously 4.02%), with a £995 fee. It is also offering a three-year fixed-rate for remortgage at 4.07% (previously 4.22%), with a £995 fee. The Yorkshire also has a five-year fixed-rate for home purchase at 4.25% (previously 4.43%) with no fee.
Scottish Sun
22-05-2025
- Business
- Scottish Sun
Major building society to make big change to 58 savings accounts in weeks
Read one to see the full list of accounts that will be impacted SAVINGS BLOW Major building society to make big change to 58 savings accounts in weeks Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR building society will make a big change to 58 savings accounts in weeks. Leeds Building Society will slash the rates on a number of its savings accounts. Sign up for Scottish Sun newsletter Sign up 1 Leeds Building Society will slash the rates on a number of its savings accounts Credit: Alamy The moves comes after rate-setters on the BoE's Monetary Policy Committee cut the base rate from 4.5% to 4.25%. This was the fourth interest rate cut since 2020. The base rate is used by lenders to determine the interest rates offered to customers on savings and borrowing costs. A base rate cut can mean that mortgage rates are lowered, which is good news for homeowners. But it can mean that savers lose out as the interest they earn on savings will drop. As the base rate falls, some savings providers, including Leeds Building Society have chosen to lower the interest rates on some savings accounts. Some 58 savings accounts provided by the bank will have interest rates lowered. That includes its Five Access Saver which will have its interest rates lowered from 3.77% AER to 3.55% come June 27. AER, or Annual Equivalent Rate, is used to show you what you could earn from a savings account over a year. It's Ronnie The Rhino Youngsaver account for those under 18 will also have its interest lowered. I've started saving up for next year's energy bills using savvy £1 hack.. Come June 26, the rate will lower from 3.80% AER to 3.65%. Meanwhile, Vault customers will see interest rates on their account from 3.80% AER to 3.65% come June 26. The change will take place from June 23, but dates can vary from offer to offer. You can take a look at the full list of account changes below 1 Year Double Access Cash ISA - Previous rate: 4.35% Tax free§ p.a./AER2 - New rate: 4.15% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.35% Tax free§ p.a./AER2 - New rate: 4.15% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 1 Year ISA Holding Account - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 1 Year ISA Holding Account (Issue 2, 3 & 4) - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Access ISA (Monthly) - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Access Saver - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Access Saver (Monthly and Issue 6 & 7) - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Albion Access Account - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 Blue and Amber Account (Issue 2, 6, 8, 9, 11, 13, 14 & 15) - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Caringsaver - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Charitable Foundation Account - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Child Trust Fund Bonus Saver - Previous rate: 4.40% Tax free§ p.a./AER2 - New rate: 4.25% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.40% Tax free§ p.a./AER2 - New rate: 4.25% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Dinosaver - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 E-ISA - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 E-ISA (Issue 7, 8 & 9) - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 E-Saver - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 E-Saver (Issue 7, 8 & 9) - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Five Access Saver - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Five Access Saver (Issue 2, 3 & 4) - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Home Deposit Saver - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Home Deposit Saver (Issue 2 & 3) - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 ISA Saver - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 ISA Saver (Issue 4 & 5) - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Limited Issue Online Access Account (Issue 61 & 66) - Previous rate: 4.30% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.30% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Limited Issue Online Access Account (Issue 65) - Previous rate: 4.42% Tax free§ p.a./AER2 - New rate: 4.17% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.42% Tax free§ p.a./AER2 - New rate: 4.17% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Limited Issue Online Access ISA (Issue 66) - Previous rate: 4.20% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.20% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Limited Issue Online Access ISA (Issue 67 & 80) - Previous rate: 4.30% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.30% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Limited Issue Online Access ISA (Issue 68, 69 & 75) - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Limited Issue Online Access ISA (Issue 78) - Previous rate: 4.17% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.17% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Online Access Cash ISA (Issue 1) - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Online Access Cash ISA (Issue 2 & 3) - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Online Access Saver (Issue 1) - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Online Access Saver (Issue 2) - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Online Access Saver (Issue 3) - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Regular Saver (Issue 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 56, 57, 59, 60, 61, 62 & 63) - Previous rate: £100 - £6,000 - 4.80% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.70% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £6,000 - 4.80% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.70% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Regular Saver (Issue 55 & 58) - Previous rate: £100 - £6,000 - 4.95% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.85% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £6,000 - 4.95% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.85% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Ronnie The Rhino Youngsaver - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Shared Ownership Saver - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Shared Ownership Saver (Issue 2 & 3) - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Six Access ISA - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Six Access ISA (Issue 2, 3 & 4) - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Six Access Saver - Previous rate: 3.00% Gross1 p.a./AER2 - New rate: 2.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.00% Gross1 p.a./AER2 - New rate: 2.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Solihull Saver - Previous rate: £100 - £250,000 - 4.35% Gross1 p.a./AER2; Above £250,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £250,000 - 4.20% Gross1 p.a./AER2; Above £250,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £250,000 - 4.35% Gross1 p.a./AER2; Above £250,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £250,000 - 4.20% Gross1 p.a./AER2; Above £250,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Treasurers Saver Account - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 Vault - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Vault (Issue 3, 4 & 5) - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Young Saver - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Young Saver (Issue 2, 3 & 4) - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 If you are not happy with the change, it is always worth looking at other providers to see if you can get a better deal. Websites such as MoneyFacts share the best offers on the market for savings and other types of bank accounts. OTHER BANKING CHANGES Leeds Building Society is not the only bank which has lowered the interest on its deals. Online bank Monzo said it would lower the intertest on its Personal Instant Access Savings Pots from from 3.50% AER to 3.25% AER. The bank said it would make the changes automatically on May 27 2025. Elsewhere, Barclays, Nationwide and Lloyds have all confirmed their customers on standard variable rate (SVR) and tracker mortgages will benefit due to the rate cut. Barclays confirmed all its mortgage products that track the base rate will decrease by 0.25%. Existing customers will see their rates change from June 1. Barclays' standard variable rate mortgage is 3.49% above the base rate. It currently stands at 7.99%, but following today's announcement it will drop to 7.74% on June 1. Nationwide customers will also see interest rate reductions of 0.25%. Those on standard variable rate mortgages will start getting their new rate on June 1. It will drop from 7.24% to 6.99%.Tracker mortgages will also reduce on June 1.
