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Leeds BS launches First Homes products

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  • 29/11/2021
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Leeds BS launches First Homes products
Leeds Building Society has released a set of high loan to value (LTV) products to support the government’s First Homes Scheme.

 

The products have two-year and five-year fixed rate options available up to 75 per cent LTV.

The two-year fixed rate is priced at 1.91 per cent and comes with no fee, whilst the five-year fixed rate fee-free option is priced at 1.89 per cent. Its five-year fixed rate with a £799 product fee has a rate of 1.84 per cent.

The First Homes Scheme was launched in June this year with seven lenders signing up. It offers a minimum of a 30 per cent discount on market price for first-time buyers and key workers to help them get on the property ladder.

The first homes were sold under the scheme last week to key workers, including a nurse and a police worker.

According to Matt Bartle (pictured), Leeds Building Society’s products director, the mutual said that it was the first lender to receive a mortgage application under the scheme and were pleased to introduce these products for this specific customer group.

He said: “First time buyers are the lifeblood of the housing market so it’s great to see First Homes already delivering on its objective to help more people to step onto the property ladder.

“As a supporter of affordable housing purchasers, including through Shared Ownership and Help to Buy, we welcome innovation in this sector.”

Bartle added: “As new schemes become established, we listen closely to feedback from customers and our intermediary partners so we can create more products to help people to have the home they want.”

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