Leeds Building Society is now offering a new mortgage product which can be used alongside the Welsh Government’s Help to Buy Equity Loan scheme.

Customers can use this product to purchase 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.

The new deal from Leeds Building Society can be used alongside the Help to Buy equity scheme. The mutual’s offer is a 2.45% two-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.

Martin Richardson, Leeds Building Society’s general manager – 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 two-year fixed rate at 2.45%, available to both first time buyers and home movers.

“The combination of £199 product fee and two-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.”