Leeds Building Society has launched two 5-year deals with £1,000 cashbacks and a free standard valuation and no product fees.
The rates for these deals are: 2.64% up to 85% loan-to-value and 3.09% up to 90% LTV. There’s also a 5-year rate at 1.94% up to 75% LTV and a 2.04% up to 80% LTV, both with a free standard valuation and £999 fee.
Chris Dawe, sales director at brokerage LDNfinance, said: “The biggest struggle for many buyers, mainly first-time buyers, is not proving sufficient income to get the mortgage loan they require but rather gathering sufficient funds for the deposit and additional costs of borrowing.
“Anything that assists buyers in that respect, can only be a good thing.”
Jaedon Green, Leeds Building Society’s director of product and distribution, said: “We’ve introduced some new £1,000 cashback deals with no product fee to our five year fixed rate mortgage range.
“Our mission as a business is to help people to have the home they want and we understand that everyone’s individual circumstances are different.
“For that reason we offer incentive packages which give borrowers plenty of choice, not only on the rate and term of their mortgage, but also to help with the other costs of moving home or remortgaging.
“Of course, it’s your choice how to spend the cashback – whether that’s to cover removal fees or put towards stamp duty, or treat yourself with a holiday or tickets to the World Cup or the Wimbledon final.”