Leeds Building Society General Information
Leeds Building Society provides mortgages products in the UK, Gibraltar and Northern Ireland. The credit is secured by a mortgage over the property. Some products are not available in every jurisdiction. Foreign Currency loans are not available.
A mortgage term can range from 5 years to 40 years. The Society provides;
- Fixed mortgages – Payments will stay the same for a fixed term, after which the mortgage switches to the Society’s Standard Variable Rate (SVR) for the remaining mortgage term. View fixed rate mortgages.
- Variable mortgages - We have a range of variable rate mortgages, including our Standard Variable Rate (SVR) and Buy to Let Variable Rate (BTL). Please be aware that variable rates may vary in accordance with our mortgage terms and conditions. View variable rate mortgages.
- Help to Buy mortgages - With the Help to Buy Equity Loan Scheme, borrowers requires a deposit of at least 5%. The government then provides your client with an Equity Loan of up to 20% (or 40% under the London Help to Buy scheme) of the cost of the new build home, interest free for the first 5 years. After 5 years the interest on the Equity Loan is payable (except in Scotland). Our Help to Buy mortgages are only available through intermediaries.
- Shared Ownership/Equity mortgages - Shared Ownership/Equity is a Government–funded scheme that allows customers to buy a share in a new home (usually between 25-75% of the property's value depending on what you can afford). The remaining share is owned by a Housing Association which the borrower will pay reduced rent on that share. View shared ownership/equity mortgages.
- Buy to Let mortgages - A buy-to-let mortgage is a product specifically designed for borrowers who are purchasing property to rent out. View buy-to-let mortgages.
- Discount mortgages - we offer a range of products with rates discounted for the first 2 or 3 years. This reduces your payments for the discount period but unlike fixed rates the discount will vary in accordance with our SVR but based on the discounted rate. After the discounted rate period the mortgage will revert to SVR or Bank of England rate (depending on the product) for the remainder of the mortgage period. View discount mortgages.
- Tracker mortgages - The interest rates on our tracker mortgages tracks the Bank of England’s (BoE) base rate plus a fixed percentage for a set period of time, meaning your repayments will vary monthly if the BoE base rate changes. View tracker rate mortgages.
- Interest only mortgages - With an interest only mortgage a customer will only make payments towards the interest on the amount they've borrowed. This means that they will still owe the full amount borrowed at the end of your mortgage term. View our interest only mortgages.
- Holiday Let mortgages – These mortgages are for owners of holiday homes who stay in the property themselves or who let out to holidaymakers. View holiday let mortgages.
Before agreeing to provide a mortgage we will instruct a valuer to look over the property to establish how much it is worth and to assess its suitability for mortgage purposes. There is usually a charge for this. A valuation is not the same as a survey. A survey will give you a more detailed evaluation of the property.
Full information on additional fees and charges, including valuation of the property, can be found on the Tariff of Charges webpage.
There may be conditions and/or fees attached to the early repayment of a Leeds Building Society mortgage. (i.e. If you wish to pay off the mortgage before the end of the agreed term).
Further details will be sent out in any illustration or offer.