New Build Mortgages

Although you don't need a new build mortgage to buy a new build home, these mortgages are specifically designed to help solve some of the problems many new build buyers face.

New build purchases can take time to complete, particularly if you reserve the property in advance. Because of this, many new build buyers with fixed rate mortgages miss out on several months of the fixed rate period.

That's why our new build mortgages have an extended end date, which means you may have up to three months extra on your fixed rate period.

You can choose from applying online¹ (unless stated below), in branch or over the phone, and you can even use our mortgage calculator and get a decision in principle today.

Our New Build definition is a property built in the last 2 years awaiting first occupation.

Warning:THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

2 Year Fixed Rate New Build Mortgages

Initial rate fixed up to and inc. 30/03/19Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Arrangement Fee
3.09% 5.44%5.3%90%£199
Max loan amount £400,000
RATES CORRECT AS AT 02 SEP 2016

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £188,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.09% and then on our current Standard Variable Rate of 5.69% (variable) for the remaining 23 years would require 24 monthly payments of £899.60 and 276 monthly payments of £1,154.64.

The total amount payable would be £340,505.81 made up of the loan amount plus interest of £152,271.81 and booking fee £0, product arrangement fee £199, valuation fee £0.

The overall cost for comparison is 5.3% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product arrangement fee is payable on application but is refundable should the mortgage not complete. A redemption fee of £199 will apply.

  • No Higher Lending Charge.
  • 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
  • Taprered Early Repayment charges apply upto and including 30 Mar 2019
  • For fixed rate mortgages between 85% LTV and 90% LTV a maximum loan size of £400,000 applies.
  • Interest calculated daily.
  • Free standard valuation up to £999.
  • These products are not available to interest only applications.
  • These products are available for purchases only
  • Maximum LTV on new properties is 90% on houses and 85% on apartments.
  • Only available for New Build properties.

¹If you apply for a mortgage online you will not receive advice from Leeds Building Society. You will need to make your own choice about which mortgage is suitable for you and we will not assess the suitability of that mortgage to your needs and circumstances. You will not benefit from the protections offered by an advised service. This is called an execution only transaction. If you would like to receive advice from us please call into one of our branches (find a branch) or contact us on 03450 50 50 75 .