This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Leeds Building Society has made additions to its Help to Buy equity remortgage portfolio, announcing two competitive fee-free, two year fixed-rate products.
The new mortgage begins at 2.29% and are available up to 75% LTV, for loan amounts between £150,000 and £300,000. In addition, there is a 2.39% deal, again up to 75% LTV, with a maximum loan size of £150,000.[1]
Both fee-free mortgage deals come with £1,000 cahsback, have a free valuation worth up to £560 and are available through intermediaries for borrowers across England, Scotland and Wales.
Attractive
The new mortgage is available to remortgage customers only. Earlier in 2015, the Society was the first lender to accept remortgage applications from HTB equity borrowers.
Leeds BS announce new mortgage deals
‘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,’ said Martin Richardson, Leeds Building Society’s Director of Business Development. ‘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.’[1]
‘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.’[1]
[1] http://www.propertyreporter.co.uk/finance/leeds-announces-new-htb-remortgage-products.html
