The Leeds Building Society is to add two new mortgages with £1,000 cashback to its Help to Buy range on 4 January.

The mutual is launching a two-year fixed rate mortgage at 2.04% and a five-year fixed rate mortgage at 2.34%.

Both are available up to 75% loan to value (LTV) and come with a free standard valuation.

“These two latest deals offer the highest cashback available on a Help to Buy mortgage,” said Jaedon Green, Leeds Building Society’s director of product and distribution.

“We’re constantly refining and improving our Help to Buy offering in response to borrower and broker feedback and have worked hard to make our proposition as simple and straightforward as we can.

“As it reaches its fifth anniversary this year, the scheme’s first buyers will have to start paying interest on the Government equity loan taken out in 2013.

“This is likely to focus minds on remortgage options, including whether to buy out the Government’s stake from your home, whether wholly or in part.

“We were the first lender to accept Help to Buy remortgage applications and expect to see growing demand in this market as the scheme’s initial purchasers reach the end of their current deals.”