The revamp includes new versions of the Society’s Welcome Mortgage - where borrowers can choose to pay 0% interest for up to six months at the start of their term – and the reduction of its two year fixed rate mortgage offered under the Government’s Help to Buy equity scheme.
There are two new Welcome Mortgages available up to 85% LTV with 0% interest for the first three months – a two year fixed rate at 2.80% and a five year fixed rate at 3.55%. Both have a fee of £199 and come with a free valuation and £200 cashback.
In addition, the Society has cut the rate of its two year fixed rate HTB1 mortgage to 2.09%. This is available up to 75% LTV and also comes with a low £199 fee and free valuation.
Martin Richardson, Leeds Building Society’s Director of Business Development, said: “It may seem surprising but autumn is generally one of the peak times of year for home purchases. After a traditional lull during the summer holiday period the market tends to pick up again in September, with many purchasers aiming to complete their home move in time to be settled in by Christmas.
Our Welcome and Help to Buy mortgages are popular with First Time Buyers so we hope to be able to continue to support this important sector of the property market. In the first half of this year, we helped more than 4,500 First Time Buyers to step onto the property ladder, accounting for 37% of our total lending.”
