Mortgages for new build property

Welcome to our New Build Hub. Here you’ll find helpful and informative articles about this important sector, as well as links to our well-defined products and clear-cut criteria to support new build property and help intermediaries maximise the opportunities available.

Leek United's new build criteria:

 

We also cater for landlords buying new build properties to rent:

Every application is considered individually and we provide timely support as applications are processed. 

*Available for loans of up to £400,000

Want to find out more? Call our new build helpline today.

George Simpson

George Simpson

Business Development Manager

Call: 0808 196 2410

Deb Bree

Deb Bree

Business Development Manager (South)

Call: 07711 233106

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Leek United products

Discount Mortgages

Product Product Fee Application Fee Initial Rate Reverting to standard variable rate currently Overall cost for comparison Terms and Conditions
1674 2 Year Discount - up to 95% Loan to Value WITH £500 CASHBACK² £0 £0 2.85% Variable for 2 years (our standard variable rate minus 2.84% discount) 5.69% 5.2% Annual Percentage Rate of Charge (APRC)1 View  
1679 2 Year Discount - up to 90% Loan to Value WITH £400 CASHBACK² £0 £0 2.45% Variable for 2 years (our standard variable rate minus 3.24% discount) 5.69% 5.1% Annual Percentage Rate of Charge (APRC)1 View  
1684 2 Year Discount - up to 85% Loan to Value WITH £400 CASHBACK² £0 £0 2.30% Variable for 2 years (our standard variable rate minus 3.39% discount) 5.69% 5.1% Annual Percentage Rate of Charge (APRC)1 View  
1685 INTEREST ONLY⁴ 2 Year Discount - up to 75% Loan to Value £495 £0 2.24% Variable for 2 years (our standard variable rate minus 3.45% discount) 5.69% 5.3% Annual Percentage Rate of Charge (APRC)1 View  
1686 INTEREST ONLY⁴ 2 Year Discount - up to 75% Loan to Value £0 £0 2.54% Variable for 2 years (our standard variable rate minus 3.15% discount) 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  

¹ The actual rate available will depend upon your circumstances, please ask for a personalised illustration.

² You will receive a cashback on completion of your mortgage. Not available for mortgage transfers or additional borrowing.

⁴ If you choose an interest only mortgage, you must have a clearly understood and credible repayment strategy in line with the Society’s responsible lending criteria.

Representative Example (based on a residential property purchase):
The Annual Percentage Rate of Charge (APRC) varies with the circumstances of each mortgage. Here is a representative example of a loan secured on your main residential property: A mortgage of £125,000.00 on a capital and interest (repayment) basis payable over 25 years initially on a discounted variable rate of 2.85% (equal to 2.84% discount off our Standard Variable Rate) for 2 years and then on our Standard Variable Rate (SVR) of 5.69% (variable) for the remaining 23 years you would pay:
1 monthly repayment of £165.92, followed by
24 monthly repayments of £581.72, followed by
276 monthly repayments of £763.65
The total amount payable would be £225,034.60 made up of the loan amount of £125,000.00 plus interest (£99,894.60), a funds transfer fee of £20 and legal fee of £120. The overall cost for comparison is 5.2% APRC representative.
Please note: the example above is for a residential property purchase only and assumes a payment date of 1st of the month. If you choose to pay your mortgage later in the month this will affect payments and could result in a higher APRC. For product transfers, re-arrangement and additional borrowing applications, certain fees do not apply. Please speak to your mortgage adviser for further details.

Fixed Rate

Product Product Fee Application Fee Initial Rate Reverting to standard variable rate currently Overall cost for comparison Terms and Conditions
1735 5 Year Fixed Rate - up to 95% Loan to Value WITH £500 CASHBACK² £995 £0 3.70% Fixed until 31 October 2027 5.69% 4.9% Annual Percentage Rate of Charge (APRC)1 View  
1734 2 Year Fixed Rate - up to 95% Loan to Value WITH £500 CASHBACK² £0 £0 3.74% Fixed until 31 October 2024 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  
1749 5 Year Fixed Rate - up to 90% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £0 £0 3.42% Fixed until 31 October 2027 5.69% 4.8% Annual Percentage Rate of Charge (APRC)1 View  
1750 5 Year Fixed Rate - up to 90% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £995 £0 3.22% Fixed until 31 October 2027 5.69% 4.7% Annual Percentage Rate of Charge (APRC)1 View  
1747 2 Year Fixed Rate - up to 90% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £0 £0 3.41% Fixed until 31 October 2024 5.69% 5.3% Annual Percentage Rate of Charge (APRC)1 View  
1748 2 Year Fixed Rate - up to 90% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £995 £0 2.98% Fixed until 31 October 2024 5.69% 5.3% Annual Percentage Rate of Charge (APRC)1 View  

¹ The actual rate available will depend upon your circumstances, please ask for a personalised illustration.

³ These products are not available for Portfolio Landlords, Regulated Buy to Let or Non-Homeowner borrowers.

Completion must take place on or before 31 October 2022. Please note that if your mortgage does not complete by 31 October 2022, you will not benefit from the full fixed rate period quoted for that product.

Representative Example (based on a residential property purchase):
The Annual Percentage Rate of Charge (APRC) varies with the circumstances of each mortgage. Here is a representative example of a loan secured on your main residential property: A mortgage of £125,000.00 on a capital and interest (repayment) basis payable over 25 years initially on a fixed rate for 2 years fixed at 3.74% and then on our Standard Variable Rate (SVR) of 5.69% (variable) for the remaining 23 years you would pay:
1 monthly repayment of £12.81, followed by
24 monthly repayments of £640.05, followed by
276 monthly repayments of £768.87
The total amount payable would be £227,666.93 made up of the loan amount of £125,000.00 plus interest (£102,526.93), a funds transfer fee of £20 and legal fee of £120. The overall cost for comparison is 5.4% APRC representative.
Please note: the example above is for a residential property purchase only and assumes a payment date of 1st of the month. If you choose to pay your mortgage later in the month this will affect payments and could result in a higher APRC. For product transfers, re-arrangement and additional borrowing applications, certain fees do not apply. Please speak to your mortgage adviser for further details.

Buy to Let Discount

Product Product Fee Application Fee Initial Rate Reverting to standard variable rate currently Overall cost for comparison Terms and Conditions
1726 Buy to Let 2 Year Discount³ - up to 75% Loan to Value WITH £400 CASHBACK² £0 £0 2.65% Variable for 2 years (our standard variable rate minus 3.04% discount) 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  
1728 Regulated Buy to Let 2 Year Discount - up to 75% Loan to Value £0 £0 2.70% Variable for 2 years (our standard variable rate minus 2.99% discount) 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  
1729 Portfolio Buy to Let 2 Year Discount - up to 75% Loan to Value £0 £0 2.80% Variable for 2 years (our standard variable rate minus 2.89% discount) 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  
1727 Non-homeowner Buy to Let 2 Year Discount - up to 75% Loan to Value £0 £0 2.70% Variable for 2 years (our standard variable rate minus 2.99% discount) 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  
1757 Green Holiday Let ABC 2 Year Discount - up to 75% Loan to Value WITH £400 CASHBACK² £995 £0 2.99% Variable for 2 years (our standard variable rate minus 2.70% discount) 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  
1758 Holiday Let 2 Year Discount - up to 75% Loan to Value £995 £0 2.99% Variable for 2 years (our standard variable rate minus 2.70% discount) 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  

¹ The actual rate available will depend upon your circumstances, please ask for a personalised illustration.

² You will receive a cashback on completion of your mortgage. Not available for mortgage transfers or additional borrowing.

³ These products are not available for Portfolio Landlords, Regulated Buy to Let or Non-Homeowner borrowers.

Representative Example (based on a Non-portfolio Investment Property purchase):
The Annual Percentage Rate of Charge (APRC) varies with the circumstances of each mortgage. Here is a representative example of a loan secured on your investment property: A mortgage of £125,000.00 on an interest only basis payable over 25 years initially on a discounted variable rate of 2.65% (equal to 3.04% discount off our Standard Variable Rate) for 2 years and then on our Standard Variable Rate (SVR) of 5.69% (variable) for the remaining 23 years you would pay:
1 monthly repayment of £154.28, followed by
24 monthly repayments of £275.45, followed by
276 monthly repayments of £590.01
1 final payment of £125,000.00
The total amount payable would be £294,747.84 made up of the loan amount of £125,000.00 plus interest (£169,607.84), a funds transfer fee of £20 and legal fee of £120. The overall cost for comparison is 5.4% APRC representative.
Please note: the example above is for a non-portfolio investment property purchase only and assumes a payment date of 1st of the month. If you choose to pay your mortgage later in the month this will affect payments and could result in a higher APRC. For product transfers, re-arrangement and additional borrowing applications, certain fees do not apply. Please speak to your mortgage adviser for further details.

Buy to Let Fixed Rate

Product Product Fee Application Fee Initial Rate Reverting to standard variable rate currently Overall cost for comparison Terms and Conditions
1745 Buy to Let 5 Year Fixed Rate³ - up to 75% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £0 £0 3.19% Fixed until 31 October 2027 5.69% 5.0% Annual Percentage Rate of Charge (APRC)1 View  
1746 Buy to Let 5 Year Fixed Rate³ - up to 75% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £995 £0 2.95% Fixed until 31 October 2027 5.69% 4.9% Annual Percentage Rate of Charge (APRC)1 View  
1743 Buy to Let 2 Year Fixed Rate³ - up to 75% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £0 £0 3.27% Fixed until 31 October 2024 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  
1744 Buy to Let 2 Year Fixed Rate³ - up to 75% Loan to Value WITH £400 CASHBACK² (Minimum loan £100,000) £995 £0 2.85% Fixed until 31 October 2024 5.69% 5.4% Annual Percentage Rate of Charge (APRC)1 View  

¹ The actual rate available will depend upon your circumstances, please ask for a personalised illustration.

² You will receive a cashback on completion of your mortgage. Not available for mortgage transfers or additional borrowing.

³ These products are not available for Portfolio Landlords, Regulated Buy to Let or Non-Homeowner borrowers.

Completion must take place on or before 31 October 2022. Please note that if your mortgage does not complete by 31 October 2022, you will not benefit from the full fixed rate period quoted for that product.

Representative Example (based on a Non-portfolio Investment Property purchase):
The Annual Percentage Rate of Charge (APRC) varies with the circumstances of each mortgage. Here is a representative example of a loan secured on your investment property: A mortgage of £125,000.00 on an interest only basis payable over 25 years initially on a fixed rate for 2 years fixed at 3.27% and then on our Standard Variable Rate (SVR) of 5.69% (variable) for the remaining 23 years you would pay:
1 monthly repayment of £11.20, followed by
24 monthly repayments of £339.73, followed by
276 monthly repayments of £590.00
1 final payment of £125,000.00
The total amount payable would be £296,144.72 made up of the loan amount of £125,000.00 plus interest (£171,004.72), a funds transfer fee of £20 and legal fee of £120. The overall cost for comparison is 5.4% APRC representative.
Please note: the example above is for a non-portfolio investment property purchase only and assumes a payment date of 1st of the month. If you choose to pay your mortgage later in the month this will affect payments and could result in a higher APRC. For product transfers, re-arrangement and additional borrowing applications, certain fees do not apply. Please speak to your mortgage adviser for further details.

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