Following our recent announcement, we are now ready to accept business for London Help to Buy.
Help to Buy is a relatively new part of the market, of which we have participated 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. With this in mind we are 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 We 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 A 5 Year Fixed Rate up to and including 30 April 2021 – 55% LTV 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 our offering, contact our telephone Business Development Team on 0345 050 5555*, or visit our website www.leedsintroducer.co.uk. *We 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).
