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Leeds BS extends Help to Buy deals with £1,000 cashback

  • 03/01/2018
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Leeds BS extends Help to Buy deals with £1,000 cashback
Leeds Building Society is adding two mortgages with £1,000 cashback to its Help to Buy range as the scheme's first users prepare to make interest payments.

The mutual said it expects to see growing demand in the remortgage Help to Buy market as initial purchasers reach the end of their current deals.

The products are a two-year fixed rate mortgage at 2.04%; and a five-year fixed rate mortgage at 2.34%.

Both loans, which go live from tomorrow, are available up to 75% LTV (loan to value) and come with a free standard valuation.

They can also be used for purchase or remortgage and include a product fee of £999.

Leeds Building Society director of product and distribution Jaedon Green said the lender had continued to develop its Help to Buy offering.

“As it reaches its fifth anniversary this year, the scheme’s first buyers will have to start paying interest on the Government equity loan taken out in 2013,” he said.

“This is likely to focus minds on remortgage options, including whether to buy out the government’s stake from your home, whether wholly or in part.

“We were the first lender to accept Help to Buy remortgage applications and expect to see growing demand in this market,” he added.

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