30
Jul
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".