Those people who were among the first to purchase their properties under the government’s Help to Buy (HTB) equity scheme can now access two new remortgage deals from the Leeds Building Society.
The two new three year fixed rate deals are at 2.54% up to 75% LTV with a £999 fee and 2.79% p to 75% LTV, with a £199 fee.
Each comes with a free valuation, for properties worth up to £500,000, and fees assisted legal services, and both are available through intermediaries.
These two new deals are in addition to the Society’s existing Help to Buy mortgages, which are available for remortgage as well as home purchase.
Earlier this year the Society was the first lender to accept re-mortgage applications from Help to Buy mortgages equity borrowers.
“A lot of the first Help to Buy borrowers will have chosen a two year fixed rate mortgage back in summer 2013 so may be looking for a competitive deal to remortgage to,” said Martin Richardson (pictured), Leeds Building Society’s general manager – business development.
“The interest-free loan from the government will have another three years to run before borrowers have to start to pay interest on that portion, so a three year remortgage deal makes sense.
“While mortgage rates are currently so low, and with the ongoing discussions about when the Bank of England will finally raise the Base Rate, we’re seeing strong demand for remortgages and we try to include different fee options for borrowers to find the deal which suits them best.”