Leeds reveals Help to Buy loans with £1,000 cashback

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Leeds Building Society is adding two mortgages with £1,000 cashback to its Help to Buy range from tomorrow.

The Society is launching a two-year fixed rate mortgage at 2.04 per cent and a five-year fixed rate mortgage at 2.34 per cent.

Both are available up to 75 per cent LTV and come with a free standard valuation.

Leeds Building Society director of product and distribution Jaedon Green says: “As it reaches its fifth anniversary this year, the scheme’s first buyers will have to start paying interest on the Government equity loan taken out in 2013.

“This is likely to focus minds on remortgage options, including whether to buy out the Government’s stake from your home, whether wholly or in part.

“We were the first lender to accept Help to Buy remortgage applications and expect to see growing demand in this market as the scheme’s initial purchasers reach the end of their current deals.”

The Society’s Help to Buy mortgages are only available through brokers and can be used for property purchase or remortgage.

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