Leeds adds £500 cashback to 95% LTV and buy-to-let products

Essex Home Finance
Leeds Building Society is adding £500 cashback mortgages.
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Leeds Building Society is adding £500 cashback mortgages to a number of its mortgage products.

First-time buyers and other applicants can take advantage of a 95% LTV deal and there is also a cashback option for residential remortgage and buy-to-let borrowers.

Products featuring the new £500 cashback include a two-year fixed rate at 3.60% up to 95% LTV, a two-year fixed rate at 2.44% up to 80% LTV, and a two-year buy-to-let mortgage at 2.26% up to 60% LTV.

All three deals have no product fee and come with £500 cashback and free standard valuation.

Matt Bartle, director of products at Leeds Building Society, said:“These latest cashback deals offer first-time buyers and borrowers who are looking for a new deal that extra bit of financial flexibility at a time when they have a number of other expenses.

“The combination of cashback with no product fee on the lower LTV deals is expected to be of particular interest to homeowners looking to remortgage – according to the latest industry figures there are over 85,000 residential and buy-to-let mortgages due to mature in August 2021.

“We’ve seen growing demand for remortgage deals and we expect this to continue as borrowers respond to the Government’s stamp duty changes.

“Cash freed up at the start of a mortgage is often handy to cover some of the costs associated with remortgaging or buying a property. These products also come with the added benefit of no product fees.

“We’re constantly refining and improving our offering in response to borrower and broker feedback and these cashback deals are a further example of how we’ve used our expertise and experience in the market to understand and respond to the needs of customers.”

Original Article from Financial Reporter 07/07/21

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