Back to January 2018

Leeds HTB cashback deal aids first time buyers

Leeds Building Society is continuing to help first time buyers onto the property ladder through the Government’s Help to Buy equity scheme.

The Society refreshed its Help to Buy range earlier this month, adding in two new fixed rate deals offering £1,000 cashback on completion.

“Cashback is always popular with first time buyers as it can help with some of the unexpected costs which inevitably crop up when you step onto the property ladder,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.

“Our £1,000 deals are the highest cashback available on a Help to Buy mortgage and also come with a free standard valuation.

“There was a jump in the proportion of first time buyer activity after the Government introduced stamp duty relief for this group of homebuyers in last November’s Budget.

“Our mission as a building society is to help people save and have the home they want so we’ll continue to look for ways to innovate so we can help more first time buyers.”

The £1,000 cashback Help to buy mortgages are at 2.04% fixed for two years and 2.34% fixed for five years, available up to 75% LTV (loan to value).

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:

  • 2.04% 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:

  • 2.34% 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

To discuss a new case with one of our mortgage development team, mortgage introducers should go to www.leedsintroducer.co.uk to find details of their nearest Business Developer contact.

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 1886.2.