Leeds Building Society has announced that it will be adding a number of new fixed rate two-year loans to its slate of residential mortgage products, with these being introduced almost immediately.
The lender is adding another three two-year fixes to this range. The first of them is a loan at 95% LTV maximum that comes with cash back of £250 when the mortgage is agreed and has a starting rate of 5.55%. The second comes with LTV of up to 90% and a starting rate of 5.10%, while the third has LTV of 65% maximum and rates starting at 4.42%.
There are also no charges for completion with any of these loans and the option of a standard valuation carried out for free. All of them are fixed rate, but the 95% LTV loan is available for purchase borrowers only, while the 90% and 65% maximum LTV ones can be accessed for both purchase and remortgage purposes.
Jonathan Thompson from Leeds Building Society told Mortgage Strategy that there was significant customer demand for loans with high LTV, and that the one with maximum LTV of 95% would likely be of particular interest to first-time buyers.
He then went on to add that:
“Supporting first-time buyers is important to us as a mutual and also because this group is the lifeblood of a healthy housing market.”
Advisors with the CeMAP qualification are seeing a lot of remortgage clients right now, so they will be pleased that products to suit them are also included.
