The Yorkshire-based mutual has updated its range of ‘Welcome’ mortgages – products with tiered interest rates, starting at 0% for up to six months at the start of the term.

The lender has also reduced the rates on its two-year fixed rate mortgage offered using the government’s Help to Buy equity scheme.

It has cut the rate of its two year fixed rate Help to Buy mortgage to 2.09%. This is available up to 75% LTV and also comes with a £199 fee and free valuation.

The two new Welcome mortgages are available for borrowers with a 15% deposit. Both a two year fixed rate at 2.80% and a five year fixed rate at 3.55% are available with 0% interest for the first three months.

These products also come with £199 fee, free valuation and £200 cashback.

“It may seem surprising but autumn is generally one of the peak times of year for home purchases,” said Martin Richardson, Leeds Building Society’s director of business development.

“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.”