You are here:

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.

You can only apply for these products using our advised service, meaning you can't apply for them online. Please book an appointment using the options below.

If you move home and wish to keep your mortgage with Leeds Building Society you may not be required to pay an Early Repayment Charge. Please ask for further details.

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

First Homes / DMS 2 Year Fixed Rate Mortgages

Initial rate fixed up to and inc. 28/02/2026Then changing to the Society's SVR less a discount of 0.75%, up to and inc. 28/02/2029, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
6.14% 7.49%8.24%7.9%75%£0 View
Max loan amount £2,000,000 / It's not possible to apply for this product online.
RATES CORRECT AS AT 02 november 2023

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

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 2 years at 6.14% 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 £782.65, 36 monthly payments of £879.15 and 240 monthly payments of £929.89.

The total amount payable would be £273,640.81 made up of the loan amount plus interest of £153,605.81 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 7.9% 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.

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. 28/02/2029Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
5.45% 8.24%7.2%75%£0 View
Max loan amount £2,000,000 / It's not possible to apply for this product online.
5.65% 8.24%7.3%80%£0 View
Max loan amount £1,000,000 / It's not possible to apply for this product online.
RATES CORRECT AS AT 02 november 2023

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

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 5 years at 5.65% and then on our current Standard Variable Rate of 8.24% (variable) for the remaining 20 years would require 60 monthly payments of £746.92 and 240 monthly payments of £913.15.

The total amount payable would be £264,006.92 made up of the loan amount plus interest of £143,971.92 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 7.3% 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.

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.

Back to Mortgages

Our Mortgages

Existing Customers

New Customers

Forms & Documents

Get in touch