Leeds unveils H2B remortgage products
To 75% LTV products are a 2-year fix at 2.44% and a 5-year fix at 3.14% – while both come with a £199 fee.
Martin Richardson, Leeds Building Society’s general manager – business development, said: “The first homeowners who bought under the HTB equity scheme are now coming to the end of their mortgage deals and have their first opportunity to switch to a better deal.
“Mortgage rates are at historic lows at present and the average 2-year fixed rate mortgage available now is lower than when the government launched the scheme in March 2013 so borrowers can save themselves some money by switching to a more competitive deal.”
The new products stand alongside the society’s old 75% LTV Help to Buy products; a 2-year discount at 1.99%, a 2-year fix at 2.34% and a 5-year fix at 2.99%.
Alternatively, they can choose to redeem the government equity loan as part of their remortgage and buy the property outright, using one of the society’s 90% LTV deals.