Leeds slashes rates by up to 0.70% on first time buyer mortgages

Leeds Building Society has reduced the rates by up to 0.70% on its shared ownership mortgages, which have been specifically designed to help first time buyers (FTBs) onto the housing ladder, and are available up to 95% of the borrowers share.

The rates have been reduced by 0.70% and 0.60% on the 2-Year Discount product, available up to 95% and 80% of the borrower's share respectively, and by 0.30% on the 2 and 3-Year Fixed Rate products, available up to 95% and 80% of the borrower's share.
 
Kim Rebecchi, Leeds Building Society Sales and Marketing Director said, "We are all well aware of the difficulties facing first time buyers. They can often struggle to meet the full asking price or their current income is insufficient to support a full mortgage.

"There is no doubt that these shared ownership products offer FTBs a viable way onto the housing ladder and are ideal for people who have saved a small deposit but cannot buy a property in their own right. These mortgages will prove attractive to anyone who is ready to make the first step into home ownership."

For more information, visit leedsbuildingsociety.co.uk.