Leeds launches H2B remortgage products starting at 2.54%

Leeds Building Society has launched two Help to Buy equity scheme remortgage products.

Both products are three-year fixed rates and are available to 75 per cent LTV. The first product has a rate of 2.54 per cent, with a £999 fee, and the second is a 2.79 per cent product, with a £199 fee.

Each comes with a free valuation, for properties worth up to £500,000, and fees assisted legals. Both products are available through brokers.

General manager of business development Martin Richardson says: “A lot of the first Help to Buy borrowers will have chosen a two year fixed rate mortgage back in summer 2013 so may be looking for a competitive deal to remortgage to.

“The interest-free loan from the Government will have another three years to run before borrowers have to start to pay interest on that portion, so a three year remortgage deal makes sense.

“While mortgage rates are currently so low, and with the ongoing discussions about when the Bank of England will finally raise the base rate, we’re seeing strong demand for remortgages and we try to include different fee options for borrowers to find the deal which suits them best.”