The 10-year Help to Buy equity loan product has been launched in partnership with Barratt Developments and is available at 4.99%. A £199 booking fee and £300 completion fee apply.
The product is also available under the mutal’s ‘Welcome mortgages’ range with an interest-free period of three months followed by a rate of 5.16% or six months at 0% then 5.34% for the rest of the fixed period.
A five-year Help to Buy Welcome mortgage is available with three months at 0% and then 4.13%, or six months at 0% and then 4.40%. Additionally a two-year Help to Buy Welcome mortgage is also on offer with three months at 0% and followed by a rate of 2.88%.
The two-year product without the interest-free period is priced at 2.50% while the five-year equivalent is available at 3.90%.
“We have seen strong demand for our Help to Buy mortgages since these were launched last summer,” said Martin Richardson, Leeds Building Society’s business development general manager.
“The cost of an Help to Buy Welcome mortgage is in line with our standard Help to Buy mortgages but gives the borrower smaller repayments in the first months as they settle into their new home, freeing up cash for them to personalise it and make it feel their own.
“Borrowers have the security of fixing their monthly repayments for a term to suit them and from the start also are paying the capital and reducing their total loan.”
The products are available on Barratt homes in England, Wales and Scotland.
