Quantcast
Menu

Government Help

Leeds refreshes Help to Buy deals

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
09/03/2017

Borrowers looking to remortgage using the government’s Help to Buy scheme have been boosted by a new Leeds Building Society range.

The Yorkshire-based mutual was one of the first lenders to offer products under the government’s Help to Buy scheme when it launched. Those who took out a two-year deal in the summer of 2013 are now reaching the end of their initial term.

Homeowners looking to remortgage onto a fixed rate deal now have access to two new three-year deals.

A 2.54% deal is available up to 75% loan-to-value with a £999 fee. While those looking for a lower fee have access to a £199 fee 2.79% product, also up to 75% loan-to-value.

Both come with free valuation for properties worth up to £500,000 and fees assisted legal services. Both products are also available through intermediaries.

These new deals supplement the society’s existing Help to Buy range.

“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,” said Martin Richardson, Leeds Building Society’s business development general manager.

“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.”