Leeds offering mortgage with 5pc deposit

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Leeds Building Society has returned to the 95 per cent loan-to-value mortgage market, boosting opportunities for first-time buyers.

The mutual joins two other lenders – Saffron Building Society and Skipton Building Society – in offering a mortgage which requires a five per cent deposit. The five-year fixed-rate mortgage starts at 4.94 per cent and a fees assisted version from 5.34 per cent.

Kim Rebecchi, Leeds Building Society’s sales and marketing director said, “We know that many customers are looking to lock in value and that finding a large deposit can be a big chall- enge.”

She added: “Therefore, these products will be attractive to mortgage customers looking to budget, and particularly to those customers looking for a highly competitive deal with a low dep- osit.”