Leeds launches £1k cashback deals
Leeds Building Society has announced the introduction of two new interest-only mortgages with £1,000 cashback.
Both are two year fixed rate mortgages and each comes with a free valuation, as well as fees assisted legal services for standard remortgages.
The deals are a 2.09% interest-only fixed mortgage available up to 60% LTV (loan to value); and a 2.24% interest-only part and part deal available up to 75% LTV.
“More choice is returning to the interest-only market and these new products with incentives complement our existing range,” said Jaedon Green, Leeds Building Society’s director of product and distribution.
“Activity last year suggests borrowers with interest-only and part and part mortgages are more likely to remortgage, compared to capital and interest borrowers, and we’d expect even more of these homeowners to take advantage of current low rates and switch to a better deal.
“With the incentives our latest products include, we’d expect the part and part deal to be of particular interest to interest-only borrowers seeking to remortgage.”