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Right To Buy Mortgages

Right to Buy is a government backed mortgage scheme designed to help you buy the home you currently rent at a discounted price. 

We are supporting Right to Buy with a range of mortgages.

If you’re interested in the mortgage scheme you will need to contact your landlord to find out if you qualify. We will require Right to Buy documentation confirming eligibility and the discounted purchase price.

Why choose Leeds Building Society?

  • Right to Buy lending is available for up to 100% of the borrowers discounted purchase price
  • We will lend up to 75% of the property value for the purpose of home improvements, subject to the borrower obtaining a letter/deed of postponement from the landlord confirming ranking agreement

The mortgaged property (which may be your home) may be repossessed if you do not keep up repayments on your mortgage

2 Year Right to Buy Fixed Rate Mortgages

Initial rate fixed up to and inc. 30/06/23Then changing to the Society's SVR less a discount of 1.25%, up to and inc. 30/06/2026, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
1.89% 4.04%5.29%4.5%65%£0
Max loan amount £500,000
1.99% 4.04%5.29%4.5%75%£0
Max loan amount £500,000
RATES CORRECT AS AT 23 february 2021

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

Representative Example

A mortgage of £70,000.00 payable over 25 years initially on a fixed rate for 2 years at 1.99% and then a 1.25% discount on our current Standard Variable Rate of 5.29% giving a rate of 4.04% for 3 years and then on our current Standard Variable Rate of 5.29% for the remaining 20 years would require 24 monthly payments of £296.17, 36 monthly payments of £364.93 and 240 monthly payments of £405.67.

The total amount payable would be £117,642.52 made up of the loan amount plus interest of £47,607.52 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 4.5% 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 fee is payable on application (where applicable) but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply up to and including 30 June 2023.
  • Interest calculated daily.
  • Maximum loan size £500,000.
  • These products are not available to interest only applications.

5 Year Right to Buy Fixed Rate Mortgages

Initial rate fixed up to and inc. 30/06/26Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
1.94% 5.29%4.0%65%£0
Max loan amount £500,000
2.19% 5.29%4.1%75%£0
Max loan amount £500,000
RATES CORRECT AS AT 23 february 2021

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

Representative Example

A mortgage of £70,000.00 payable over 25 years initially on a fixed rate for 5 years at 2.19% and then on our current Standard Variable Rate of 5.29% (variable) for the remaining 20 years would require 60 monthly payments of £303.01 and 240 monthly payments of £397.65.

The total amount payable would be £113,651.37 made up of the loan amount plus interest of £43,616.37 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 4.1% 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 fee is payable on application (where applicable) but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply up to and including 30 June 2026.
  • Interest calculated daily.
  • Maximum loan size £500,000.
  • 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.

Mortgage calculator

Get a quick estimate of what your monthly payments will be for one of our mortgages

Borrowing calculator

Get a quick estimate of how much you can borrow.

  • Extra help and guidance

    If you want help and support with your application call a Mortgage Assistant

    03450 50 50 62(press option 2)

  • Talk to an expert now

    When you're ready to apply for a mortgage, call to request to speak to a Mortgage Consultant

    03458 48 00 26 (press option 1)

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