The society is releasing two versions of its ‘Welcome Mortgage’, where borrowers pay 0% interest for an initial period, with an 85% loan-to-value 2-year fix standing at 2.80% and a 5-year fix standing at 3.55% with 0% interest for the first three months. Both come with a £199 fee and £200 cashback.
The society has also cut its 2-year fixed rate Help to Buy 1 mortgage to 2.09% to 75% LTV with a £199 fee and a free valuation.
Martin Richardson, Leeds Building Society’s director of business development, said: “It may seem surprising but autumn is generally one of the peak times of year for home purchases.
“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.”
