A two-year fixed rate at 2.44% and a five-year fixed rate at 3.14% are now available up to 75% loan-to-value (LTV).
Both products come with assistance for legal services for standard remortgages.
Help to Buy equity homeowners can remortgage to Leeds Building Society and retain their existing loan size, subject to valuation, keeping the government equity loan in place.
Alternatively, borrowers can choose to redeem the government equity loan as part of their remortgage up to 90% LTV and buy the property outright using any one of the society’s mortgages available up to 90% LTV.
“The first homeowners who bought under the Help to Buy equity scheme are now coming to the end of their mortgage deals and have their first opportunity to switch to a better deal,” said Martin Richardson, Leeds Building Society’s general manager – business development.
“Mortgage rates are at historic lows at present and the average two-year fixed rate mortgage available now is lower than when the government launched the scheme in March 2013 so borrowers can save themselves some money by switching to a more competitive deal.”
