30 Jul

Mortgage offer launched to help homebuyers

Mortgage offer launched to help homebuyers

A mortgage deal which offers cashback has been launched to help homebuyers purchase a house for sale in the UK.

Leeds Building Society announced its new three per cent cashback mortgage, which allows homebuyers to take advantage of funds from their property investment.

The new initiative is available on mortgages with 80 per cent loan-to-value and there is no lending fee charged to the homebuyer.

General manager at the financial services company Paul Kay said: "This is a unique and innovative product, which will be attractive to customers looking to minimise up front costs."

He added that it could help homebuyers reduce the amount of deposit required for their purchase, which could help first-time buyers get on the property ladder.

Potential homeowners were also encouraged to seek mortgage advice when picking their loans.

Andy Pratt, chief operating director at Alexander Hall, told those looking for a property for sale in the UK that the mortgage market has become "more complicated".ADNFCR-1222-ID-800008758-ADNFCR

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