Leeds offers remortgage choice for Help to Buy
The society is offering two new three year fixed rate deals:
2.54% up to 75% LTV with a £999 fee; and
2.79% up to 75% LTV, with a £199 fee.
Each comes with a free valuation, for properties worth up to £500,000 and fees assisted legal services.
These two new deals are in addition to the society’s existing HTB mortgages, which are available for remortgage as well as home purchase.
“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 general manager – business development.
“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.”
HTB equity homeowners can remortgage to Leeds Building Society and retain their existing loan size, subject to valuation, keeping the Government equity loan.
Alternatively, they can choose to redeem the Government equity loan as part of their remortgage up to 90% LTV and buy the property outright, using any one of the society’s mortgages available up to 90% LTV.