Back to December 2019

All I want for Christmas is…a new mortgage?

When the presents have been opened and the turkey and sprouts eaten, what else is there to do on Christmas Day?

Sit down to watch the Queen’s Speech, snooze in front of the big festive film – or apply for a mortgage.

Since 25 December 2016 Leeds Building Society has seen an annual increase in the number of people submitting mortgage applications on Christmas Day.

And while savers log on early in the morning – maybe to deposit cash gifts or transfer money to cover festive spending – mortgage traffic on the Society website kicks off mid-afternoon.

The first mortgage applications on 25 December 2018 were logged shortly after 3pm – the time of the Queen’s Christmas message – before pausing later that afternoon and picking up again from 9pm onwards until the very end of the day.

“We were a little surprised that more and more applicants now log in on Christmas Day to start their mortgage process,” said Matt Bartle, Director of Products at Leeds Building Society.

“Maybe after all the build-up to the big day this is the first free time they have to themselvers, or perhaps they’re wanting to try out some new tech they received as a gift.

“But being mindful of today’s 24-hour society, we’re continuing to invest in and improve our online functionality to ensure we keep responding to the changing lifestyles of our customers to help more people have the home they want.”

In the run-up to Christmas Leeds Building Society launched new cashback mortgages with no product fee, to support borrowers looking to move or remortgage at what can be an expensive time of year.

Alongside the original two year deals, the Society has now added a 2.59% five year fixed rate mortgage available up to 90% LTV (loan to value) with £1,000 on completion and no product fee.

The two year fixed rate deals each come with £500 cashback – at 2.04% up to 75% LTV and 2.27% up to 85% LTV.

Ends

Notes to Editors

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 30 April 2022
  • 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 30 April 2022
  • 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

2.59% No fee 5 year fixed rate cashback up to 90% LTV

  • 10% capital free over-repayments permitted each year
  • Tapered Early Repayment Charges apply up to and including 30 April 2025
  • Free standard valuation up to £999
  • Maximum Loan £400,000, Minimum Loan £80,000
  • This product is not available to interest only application
  • £1,000 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.