Leeds Building Society - Help To Buy London

Following The Leeds recent announcement, they are now ready to accept business for London Help to Buy.

Help to Buy is a relatively new part of the market, of which The Leeds has participated in since its launch. The scheme is widely viewed as successful, however there are challenges in areas of the country where house prices are significantly above the national average e.g. London where the average house price is almost 18 times the average salary.[1]

With this in mind The Leeds is among the first lenders to offer specific mortgage products under the new London Help to Buy scheme. The scheme offers buyers with a 5% deposit a loan of up to 40% of the value of a new build home, interest-free for 5 years

They are introducing the following two London Help to Buy mortgages to our current Help to Buy range:

A 2 Year Fixed Rate up to and including 30 April 2018 – 55% LTV

1.79%
£799 fee
Free valuations

A 5 Year Fixed Rate up to and including 30 April 2021 – 55% LTV

2.45%
£199 fee
Free valuations

The London Help to Buy scheme is one element of our assisted purchase range which includes Shared Ownership, Help to Buy remortgage and Shared Equity. Each of these products are designed to help your clients get on the property ladder.

To learn more about The Leeds offering, contact their telephone Business Development Team on 0345 050 5555*, or visit the website www.leedsintroducer.co.uk.

The Leeds

may monitor and/or record your telephone conversations with the Society to ensure consistent service levels (including colleague training).

[1] 17.8% - Average house price in London £531,000 (ONS House Price Index October 2015); Median average annual salary in London £29,868.80 (ONS ASHE 2015 provisional figures).