Leeds Building Society is re-launching its mortgage range for the autumn season with a special focus on first-time buyers.
The society is offering a new version of its Welcome Mortgage, giving borrowers the choice to pay a zero per cent interest for up to six months at the start of their term.
Leeds has also reduced the rate on the two-year fix it offers under the government-supported Help to Buy equity scheme.
There are two new Welcome Mortgages available up to 85 per cent loan-to-value (LTV) with 0% interest for the first three months – a two-year fixed rate at 2.8 per cent and a five-year fixed rate at 3.55 per cent.
Both have a fee of £199 and come with a free valuation and £200 cashback.
In the Help-to-Buy mortgage offer, Leeds has lowered the fixed rate to 2.09 per cent at up to 75 per cent LTV. The product comes with a £199 fee and free valuation.
“It may seem surprising but autumn is generally one of the peak times of year for home purchases,” said Martin Richardson, Leeds Building Society’s director of business development.
“After a traditional lull during the summer holiday period the market tends to pick up again in September, with many purchasers aiming to complete their home move in time to be settled in by Christmas.
“Our Welcome and Help to Buy mortgages are popular with First Time Buyers so we hope to be able to continue to support this important sector of the property market. In the first half of this year, we helped more than 4,500 First Time Buyers to step onto the property ladder, accounting for 37% of our total lending.”
