Leeds launches shared ownership mortgage

Leeds Building Society has launched a new shared ownership mortgage product, designed to help first-time buyers onto the property ladder.

The Society's two-year fixed-rate product is on offer at a competitive mortgage rate of 5.99 per cent for a maximum borrower share of 95 per cent.

Kim Rebecchi, Leeds Building Society's sales and marketing director, explained that the Society is aware of the difficulties facing first-time buyers and believes that shared ownership is the first step onto the property ladder.

"The product has an overall maximum LTV of 75 per cent with a maximum borrower share of 95 per cent, which is ideal for customers who have saved for a deposit but cannot buy a property in their own right," she added.

A three-year fees assisted fixed-rate shared ownership product has also been launched at a rate of 6.59 per cent with a maximum borrower share of 80 per cent.

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland. The Society has operated from the centre of Leeds since 1886.
 

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2010-11-18 13:22:07 © Moneyextra.com