Back to November 2019

New cashbacks from Leeds help cover costs of moving around Christmas

House buyers moving into a new home around Christmas will be able to take advantage of a range of cashback mortgages to help cover the costs associated with purchasing a property.

Research conducted by Leeds Building Society* revealed people looking to buy a new home have a practical mindset, with stamp duty, home improvements, legal fees and paying down the mortgage all high on the priority list.

Borrowers under 34 were most likely to spend any cashback on removal and storage, followed by expected home improvements or maintenance and buying furniture or appliances.

Leeds Building Society has launched two new cashback mortgages with no product fee:

  • 2.04% two year fixed rate up to 75% LTV (loan to value) with £500 cashback
  • 2.27% two year fixed rate up to 85% LTV with £500 cashback

As well as £500 cashback, the deals include a free standard valuation and fees assisted legal services.

Matt Bartle, Director of Products at Leeds Building Society, said: “The costs associated with moving home can mount up and when this happens close to the festive period it can be useful to have some additional cash to take care of expenses.

“We work hard to understand what borrowers are looking for and use our extensive experience to develop a range of mortgages to help more people have the home they want.

“Everyone’s requirements will be individual to them, which is why we offer different combinations of fees, features and incentives across our mortgage product range.

“Our new cashback products include fees assisted legal services and a free valuation, meaning borrowers can concentrate on using their cashback to cover other expenses.”

Ends

Notes to Editors

*A national survey of 1,224 people was conducted in September 2019

Key Features

2.04% No fee 2 year fixed rate cashback up to 75% LTV                                                                

  • 10% capital free over-repayments permitted each year
  • Tapered Early Repayment Charges apply up to and including 31 Dec 2021
  • Free standard valuation up to £999
  • Fees Assisted Legal Services
  • Maximum Loan £1,000,000, Minimum Loan £50,000
  • This product is not available to interest only applications
  • £500 cashback upon completion

2.27% No fee 2 year fixed rate cashback up to 85% LTV

  • 10% capital free over-repayments permitted each year
  • Tapered Early Repayment Charges apply up to and including 31 Dec 2021
  • Free standard valuation up to £999
  • Fees Assisted Legal Services
  • Maximum Loan £500,000, Minimum Loan £50,000
  • This product is not available to interest only application
  • £500 cashback upon completion

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 won the title of Best Shared Ownership Mortgage Lender in the 2019 What Mortgage Awards, its fourth consecutive year of success in this category. It also was named Best Lender for Later Life Lending in the Legal & General Mortgage Club Awards 2019.

The Society operates throughout the UK and had assets of £20.7bn at 30 June 2019 (£19.4bn at 30 June 2018). The UK’s fifth-largest mutual is a Best Companies 2* employer and its head office is in the centre of Leeds, where it has been based since 1886.