The mutual’s offer is a 2.45% 2-year fixed rate fees assisted deal, with no higher lending charge and allowing 10% capital repayments each year. The booking fee is £199 and the product includes a free standard valuation up to £335.
Under the deal people can now buy up to 80% of the property and the mutual lends 95% of the 80%. When combined with the Government’s 20% investment, customers need a deposit of just 4% of the total property value.
Martin Richardson, Leeds general manager for business development, said: “Help to Buy Equity is a key part of the Intermediary toolbox, but it’s only as good as the products provided by lenders. I’m delighted that we’ve managed to keep the fee to £199 and still deliver a 2-year fixed rate at 2.45%, available to both first time buyers and home movers.
“The combination of £199 product fee and 2-year fixed rate at 2.45% is directly comparable to our core range at 75% LTV. I am confident our new offers will help even more people buy their home - both first time buyers and home movers.”