Back to January 2018

£1,000 cashback deals added to Leeds Help to Buy range

Leeds Building Society adds two new mortgages with £1,000 cashback to its Help to Buy range from tomorrow (4th January).

The Society is launching:

  • a two year fixed rate mortgage at 2.04%; and
  • a five year fixed rate mortgage at 2.34%.

Both are available up to 75% LTV (loan to value) and come with a free standard valuation.

The Society’s Help to Buy mortgages can be obtained only through intermediaries and can be used for property purchase or remortgage.

“These two latest deals offer the highest cashback available on a Help to Buy mortgage,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.

“We’re constantly refining and improving our Help to Buy offering in response to borrower and broker feedback and have worked hard to make our proposition as simple and straightforward as we can.

“As it reaches its fifth anniversary this year, the scheme’s first buyers will have to start paying interest on the Government equity loan taken out in 2013.

“This is likely to focus minds on remortgage options, including whether to buy out the Government’s stake from your home, whether wholly or in part.

“We were the first lender to accept Help to Buy remortgage applications and expect to see growing demand in this market as the scheme’s initial purchasers reach the end of their current deals.”

Ends

Notes to Editors

Introduced Only two year fixed rate Help to Buy Equity cashback mortgage at 2.04% up to and including 30th April 2020:

  • 04% fixed up to and including 30th April 2020
  • Available up to 75% LTV
  • £1,000 cashback on completion
  • Free standard valuation up to £999
  • Initial fixed period followed by a 1% SVR discount until 30th April 2023
  • Tapered early repayment charges (3%/2%)
  • Available for purchase or remortgage – purchase price subject to scheme rules, £500,000 maximum loan for remortgages
  • Up to 10% capital overpayment allowed penalty-free each year
  • £999 product fee
  • Introduced only

Introduced Only five year fixed rate Help to Buy Equity cashback mortgage at 2.34% up to and including 30th April 2023:

  • 34% fixed up to and including 30th April 2023
  • Available up to 75% LTV
  • £1,000 cashback on completion
  • Free standard valuation up to £999
  • Tapered early repayment charges (5/5/4/3/2%)
  • Available for purchase or remortgage – purchase price subject to scheme rules, £500,000 maximum loan for remortgages
  • Up to 10% capital overpayment allowed penalty-free each year
  • £999 product fee
  • Introduced only

Leeds Building Society was named Best Building Society Savings Provider in the Moneyfacts Awards for 2017, having also won this title in 2016. 

The Society won the title of Best Shared Ownership Mortgage Lender in the 2017 What Mortgage Awards, its second consecutive year of success in this category.

Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £17.3bn at 30th June 2017 (£14.9bn at 30th June 2016). The Society’s head office has been based in the centre of Leeds since 1886.