Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Buckinghamshire, Atom, and Leek Announce Mortgage Rate Changes

Buckinghamshire Building Society and Atom bank have announced reductions to selected mortgage rates, while Leek Building Society is increasing some fixed-rate mortgage rates and extending product end dates. These changes affect a range of products relevant to UK property professionals, including buy-to-let and holiday let mortgages.

Buckinghamshire Building Society has reduced rates across its Credit Revive and Credit Restore mortgage ranges. The Credit Revive two-year fixed rate is now 5.89% up to 70% loan-to-value (LTV) and 6.19% up to 85% LTV, down from 6.09% and 6.39% respectively. The Retirement option has been reduced from 5.99% to 5.85% up to 70% LTV. In the Credit Restore range, the three-year fixed is now 6.29% up to 60% LTV and 6.69% up to 75% LTV, down from 6.59% and 6.89%. All these products carry a £499 product fee.

Atom bank has cut rates across its Near Prime range by 0.10%. The reductions apply to products from 60% to 90% LTV, including both fee-charging and fee-free options. Rates now start at 5.39% for a two-year fixed rate at 60% LTV, with a £1,995 fee. Atom bank has also introduced a higher maximum LTV of 90% and launched products with £1,500 and £1,995 fees.

Leek Building Society is increasing some rates for its fixed-rate mortgage products, with changes effective from 12 June. The end dates for its entire product range are being extended, with the new two-year product end date set at 30 September 2028 and the five-year product end date at 30 September 2031. Updated pay rates include:

• Residential: 90% five-year fixed (No fee): 5.33% up to 5.38%; 95% two-year fixed (£995 fee & £400 cashback): 5.52% up to 5.57%; 95% five-year fixed (£400 cashback): 5.45% up to 5.50%; 95% five-year fixed (£995 fee): 5.31% up to 5.36%
• 95% Shared Ownership: two-year fixed (No fee): 5.41% up to 5.51%; five-year fixed (No fee): 5.26% up to 5.36%
• 75% Limited Company BTL: two-year fixed (No fee): 5.63% up to 5.73%; two-year fixed (£1,495 fee): 5.31% up to 5.41%; five-year fixed (No fee): 5.48% up to 5.58%; five-year fixed (£1,495 fee): 5.39% up to 5.49%
• 75% Holiday Let: two-year fixed (£995 fee): 5.36% up to 5.48%; five-year fixed (£995 fee): 5.37% up to 5.49%

These changes may impact letting agents and inventory clerks managing properties with affected mortgage products.