View more on these topics

Leeds opens the gate to first time buyers

Leeds Building Society

Variable Rate Cashback Mortgage

Type: Variable rate mortgage with cashback

Term: Life of loan

Payable rate: 6.5%

Minimum loan: 25,001

Maximum loan: Up to 100% of valuation subject to a maximum of
Income multiples: Based on affordability and credit score

Conditions: 1% cashback, free mortgage payment protection for six months

Arrangement fee: None

Redemption fee: Repayment of cashback in first three years

Introducers fee: Refer to lender

Tel: 01543 418104

Leeds Building Society has established this variable rate cashback mortgage up to 100 per cent of valuation with first time buyers in mind.

Brian Pack Financial Services principal Brian Pack believes that since the name change from Leeds & Holbeck to Leeds, this building society has launched some very good mortgage products.

Looking at the details of this mortgage Pack says: This deal has a good interest rate for mortgages up to 100 per cent of valuation. He regards the free valuation up to 335 and 1 per cent cashback as attractive extras. He also feels the early repayment charges are fair for the contract.

Turning to the less appealing features of the mortgage the only potential problem Pack can see is with the affordability criteria for income multiples, which he feels could restrict first time buyers in his area London due to the high property prices.

In terms of possible competitors, Pack concludes that the only one he can see is the Coventry package for first time buyers.


Suitability to market: Good
Competitiveness of rate: Good
Flexibility: Good
Adviser remuneration: Average

Overall 8/10


Aifa working party will judge the success of depolarisation

Aifa is setting up a working party to enable the industry to judge for itself the success of depolarisation without relying on the FSA’s research. The working party, which will comprise volunteers from the industry, will set its own benchmarks for success in a review designed to sit alongside the FSA’s assessment. The FSA, which […]

Developing your personal relationships – Webex

Read more 9amFinancial advisers and solicitors working together Presented by Ian Muirhead, director & chairman at Solicitors for Impartial Advice (SIFA) Listen to Ian’s expert insight and experiences of how financial advisers and solicitors can work together to deliver mutual benefit and enhanced client outcomes. Register here 10am Financial advisers and accountants working together Presented […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm