Leeds Building Society has released a 95 per cent loan to value (LTV) mortgage deal with cashback as part of its first-time buyer range.
The two-year fixed rate is priced at 5.69 per cent and comes with £250 cashback along with a free standard valuation.
There is no completion fee.
Jonathan Thompson, senior mortgage manager at Leeds Building Society, said borrowers with small deposits “remain a key focus for us” as it aims to “put homeownership within reach of more people”.
He continued that it was seeing “strong demand” for fixed rate higher LTV mortgages it expected this deal to appeal to first-time buyers, especially due to the cashback on completion.
Thompson said: “This type of ‘traditional’ mortgage is just one of the options we offer for home buyers with smaller deposits, alongside affordable housing schemes such as shared ownership, and we’re always seeking new ways to support routes into home ownership.
“We understand building up a deposit is often the biggest challenge facing those wanting to step onto the housing ladder. To help with that, in the spring we launched Home Deposit Saver, a regular savings account which pays the saver an extra £500 when they receive their mortgage offer from the society.”
He added that it was already seeing mortgage applicants benefitting from its partnership with Experian, where borrowers can use its boosted credit scores to improve their affordability.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
