Welcome mortgages

The Welcome mortgage is a new product and we were the first to bring it to market! Moving home has its challenges. Not only is there the deposit, fees and legal costs you need to pay, but the fun stuff such as decorating, buying new furniture and making any home improvements can all add up, too.

The Welcome mortgage is an innovative mortgage, which could help you with the routine costs and challenges of moving into your new home. The mortgage works by reducing the interest rate to 0% for the first few months of the term. However you will still be required to pay a monthly payment during this period, in respect of capital. The interest discount is calculated and repaid over the remaining term of your mortgage.

You can choose from applying online** (unless otherwise stated below) or over the phone, and can even use our mortgage calculator and get a decision in principle today.


Welcome 3 Months 0% 5 Year Fixed Rate Mortgages - No Fee

Initial fixed rate first 3 monthsThen changing to a fixed rate, up to and inc. 30/06/2024, of:Then the Society's SVR thereafter (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
0.00%2.59%5.69%4.4%85%£0 View
Max loan amount £500,000
0.00%3.06%5.69%4.6%90%£0 View
Max loan amount £400,000
RATES CORRECT AS AT 21 march 2019

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 3 months at 0.00% and then a fixed rate for 57 months at 3.06% and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 3 monthly payments of £400.00, 57 monthly payments of £570.43 and 240 monthly payments of £714.50.

The total amount payable would be £205,232.54 made up of the loan amount plus interest of £85,197.54 and application fee £0, product fee £0, valuation fee £0, chaps fee £35.

The overall cost for comparison is 4.6% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

These products are only available for house purchases. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • You will still need to pay the capital part of your mortgage during the Welcome period.
  • Tapered Early Repayment Charges apply up to and including 30 June 2024.
  • Free standard valuation up to £999.
  • Interest calculated daily.
  • Only available for house purchases.
  • These products are not available for Interest Only.
  • Extra help and guidance

    If you want help and support with your application call a Mortgage Assistant

    03450 50 50 62(press option 2)

  • Talk to an expert now

    When you're ready to apply for a mortgage, call to request to speak to a Mortgage Consultant

    03458 48 00 26 (press option 1)

** If you apply for a mortgage online you will not receive advice from Leeds Building Society. You will need to make your own choice about which mortgage is suitable for you and we will not assess the suitability of that mortgage to your needs and circumstances. You will not benefit from the protections offered by an advised service. This is called an execution only transaction. If you would like to receive guidance from us please call our Direct Mortgage Unit on 03444 175 785. We’re open 9am to 6pm Monday to Friday and 9am to 2pm Saturday.