New HTB remortgage deal from the Leeds

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The Leeds Building Society has expanded its Help to Buy equity (HTB1) remortgage range with two new fee-free two-year fixed rate products.

The new mortgage starts from 2.29%, available up to 75% LTV, for loan sizes between £150,000 and £300,000. There is also a version at 2.39%, again available up to 75% LTV, with a maximum loan size of £150,000.

Both versions of the fee-free mortgage come with £1,000 cashback, provide a free valuation worth up to £560 and are available through intermediaries for borrowers in England, Scotland and Wales.

The new mortgage is available to remortgage customers only, and earlier this year the Society was the first lender to accept remortgage applications from Help to Buy equity borrowers.

“Two years on from the launch of the Help to Buy equity scheme, lots of borrowers will be coming to the end of their initial deals and seeking a competitive remortgage package,” said Martin Richardson (pictured), Leeds Building Society’s director of business development.

“We’d expect the new fee-free versions with £1,000 cashback and free valuation to be attractive to remortgagors who are looking to keep down the cost of switching to a new deal.”

HTB1 homeowners can remortgage to a new rate with Leeds Building Society and retain their existing loan size, subject to valuation, keeping the government equity loan.

Alternatively, they can choose to redeem the government equity loan as part of their remortgage up to 90% LTV and buy the property outright, using any one of the Society’s mortgages available up to 90% LTV.

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