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Please note:

Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.

First Homes / Discounted Market Sale Mortgages

Our First Homes / Discounted Market Sale (DMS) products are designed for properties purchased at a discount to the full market value.

The government’s First Homes scheme provides a discount of between 30% and 50% of the property's open market value. The scheme is available for First Time Buyers with a combined household income of less than £80,000 (£90,000 in Greater London). The purchase price of the home after the discount must be less than £250,000 (£420,000 in Greater London). A First Home should be the buyer’s only home, with their local authority providing access to the scheme.

The products are also available for other DMS schemes, which may be subject to their own rules and criteria.

 

First Homes / DMS 2 Year Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/03/2027Then changing to the Society's SVR less a discount of 0.75%, up to and inc. 31/03/2030, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
5.34% 7.49%8.24%7.7%75%£0 View
Max loan amount £2,000,000
RATES CORRECT AS AT 19 november 2024

Representative Example

A mortgage of £150,000.00 payable over 25 years initially on a fixed rate for 2 years at 5.34% and then a 0.75% discount on our current Standard Variable Rate of 8.24% giving a rate of 7.49% for 3 years and then on our current Standard Variable Rate of 8.24% for the remaining 20 years would require 24 monthly payments of £905.92, 36 monthly payments of £1093.96 and 240 monthly payments of £1157.09.

The total amount payable would be £338,861.24 made up of the loan amount plus interest of £188,826.24 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 7.7% 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.

This example has been calculated on a Capital & Interest repayment method. The monthly payments, total amount payable and interest charged all reflect this calculation method.

Key details about this product range

  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.

For more detail about specific products, visit the links in the table above.

First Homes / DMS 5 Year Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/03/2030Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
4.94% 8.24%7.0%75%£0 View
Max loan amount £2,000,000
5.04% 8.24%7.0%80%£0 View
Max loan amount £1,000,000
RATES CORRECT AS AT 19 november 2024

Representative Example

A mortgage of £175,000.00 payable over 25 years initially on a fixed rate for 5 years at 5.04% and then on our current Standard Variable Rate of 8.24% (variable) for the remaining 20 years would require 60 monthly payments of £1026.08 and 240 monthly payments of £1319.20.

The total amount payable would be £378,207.80 made up of the loan amount plus interest of £203,172.80 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 7.0% 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.

This example has been calculated on a Capital & Interest repayment method. The monthly payments, total amount payable and interest charged all reflect this calculation method.

Key details about this product range

  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.

For more detail about specific products, visit the links in the table above.

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