The Leeds Building Society has launched two new cashback mortgages with no product fee.
The deals are as follows:
- 2.04% two year fixed rate up to 75% LTV (loan to value) with £500 cashback
- 2.27% two year fixed rate up to 85% LTV with £500 cashback
As well as cashback, the deals include a free standard valuation and fees assisted legal services.
Research conducted by the Leeds revealed people looking to buy a new home have a practical mindset, with stamp duty, home improvements, legal fees and paying down the mortgage all high on the priority list.
Borrowers under 34 were most likely to spend any cashback on removal and storage, followed by expected home improvements or maintenance and buying furniture or appliances.
Matt Bartle, director of products at the Leeds Building Society, said: “The costs associated with moving home can mount up and when this happens close to the festive period it can be useful to have some additional cash to take care of expenses.
“We work hard to understand what borrowers are looking for and use our extensive experience to develop a range of mortgages to help more people have the home they want.
“Everyone’s requirements will be individual to them, which is why we offer different combinations of fees, features and incentives across our mortgage product range.
“Our new cashback products include fees assisted legal services and a free valuation, meaning borrowers can concentrate on using their cashback to cover other expenses.”