Leeds BS launches £200 cashback offer for product transfers

Leeds Building Society has launched a new £200 customer cashback offer to help brokers assist existing customers nearing the end of their current term.

The offer is designed to reward loyalty amongst mortgage members while supporting intermediary partners with customer retention. 

Leeds believes the cashback will act as a helpful conversation starter for brokers to encourage outreach and reinforce the value of advice.

The £200 cashback will be available across a wide range of product transfers, including residential and buy-to-let (excluding limited company), with customers in negative equity and transfers onto one-year products also eligible.

Matt Bartle, director of products at Leeds Building Society, commented: “We are pleased to be able to reward loyalty amongst our mortgage members by offering £200 cashback when they make a product transfer with us.

“As a mutual, our members are at the heart of every decision we make, and this new initiative will help our mortgage holders to take control of their borrowing. Some homeowners may have lost track of when their current product term is ending, and we hope this will prompt people to review their mortgage, so they aren’t left paying more than they need to.

“The £200 cashback will come as a welcome reward for any borrowers who are ready to transfer their mortgage and boost their bank balance this summer.”

Martese Carton, director of mortgage distribution at Leeds Building Society, added: “Brokers play a vital role advising customers and ensuring that they get the right mortgage product for their changing needs.  Our new cashback recognises both the value of professional advice and the loyalty of customers who choose to stay with us through their broker relationship. It also highlights how lenders and brokers can continue to work together to achieve the best possible outcome for the customer.”