The new mortgage starts from 2.29%, available up to 75% LTV (loan to value), for loan sizes between £150,000 and £300,000. There is also a version at 2.39%, again available up to 75% LTV, with a maximum loan size of £150,000.
Both versions of the fee-free mortgage come with £1,000 cashback, provide a free valuation worth up to £560 and are available through intermediaries for borrowers in England, Scotland and Wales.
The new mortgage is available to remortgage customers only, and earlier this year the Society was the first lender to accept remortgage applications from HTB equity borrowers.
Martin Richardson, Leeds Building Society’s Director of Business Development, said: “Two years on from the launch of the Help to Buy equity scheme, lots of borrowers will be coming to the end of their initial deals and seeking a competitive remortgage package. We’d expect the new fee-free versions with £1,000 cashback and free valuation to be attractive to remortgagors who are looking to keep down the cost of switching to a new deal.”
HTB1 homeowners can remortgage to a competitive rate with Leeds Building Society and retain their existing loan size, subject to valuation, keeping the Government equity loan.
Alternatively, they 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 competitive mortgages available up to 90% LTV.
