Leeds Building Society has added a new 95% LTV mortgage to its first-time buyer range.
This is available as a two-year fixed rate deal at 5.69% and comes with a £250 cash back and a free standard valuation. There is no completion fee.
Leeds is the latest provider to extend its first-time buyer range. This latest offering comes just weeks after Skipton BS launched a 100% mortgage, which did not require backing from family, in terms of savings or mortgage equity.
Leeds BS senior mortgage manager Jonathan Thompson says: “Borrowers with smaller deposits remain a key focus for us. We’re seeing strong demand for fixed-rate higher-LTV mortgages, and with cashback on completion we expect this to appeal particularly to first-time buyers.”
Leeds BS says it offers other products to this sector, including affordable housing schemes, such as shared ownership. The building society has also launched a home deposit saver account, which pays an additional £500 if savers take out a mortgage with the society.
