Leeds and Bank of Ireland to drop rates tomorrow – Mortgage Strategy

Leeds Building Society and Bank of Ireland are cutting new business rates tomorrow by up to 29 basis points.
Bank of Ireland is lowering prices across its Bespoke range across most LTV tiers from 75% to 90%.
For example, an 80% LTV two-year fix is coming down by 29bps from 5.22% to 4.93%, while a five-year deal at the same LTV is dipping 5bps to 4.65%, both with a £1,495 fee.
Both deals come with £500 cashback.
At 85% LTV, a two year fix is dropping 28bps from 5.27% to 4.99% with a £1,495 fee.
It also comes with £500 cashback.
The lender is also lowering prices at 90% LTV and 95% on two-year and five-year fixes with a range of different fee and cashback options.
Plus it is cutting rates on selected large loan, green mortgage and buy-to-let deals.
At Leeds, the biggest reductions are to some of its limited company buy-to-let deals, which are falling by up to 20bps.
It is also cutting selected residential purchase rates by up to 16bps.
Existing deals will be withdrawn from midnight tonight.
The changes come as Suffolk and Market Harborough building societies both announced they have cut rates today by up to 30 bps.
And Santander is making reductions tomorrow.