Leeds cuts rate by 0.70% to help first time buyers

Leeds Building Society has reduced the rate on its 2 year fixed rate shared ownership mortgage, available up to 95% borrower's share, by 0.70% to 4.99%.

This product, with one of the lowest rates in the market and designed to help first time buyers onto the housing ladder, also offers a free standard valuation up to £335 and has no higher lending charge.

Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said, "We are all well aware of the difficulties facing first time buyers buying a home. They can often struggle to meet the full asking price or their current income is insufficient to support a full mortgage.

"Our 2 year fixed rate shared ownership product, at only 4.99% following a rate cut of 0.70%, is ideal for customers who have saved for a deposit but cannot buy a property in their own right. There is no doubt that this product will prove attractive to those customers who are ready to make the first step into home ownership."

For more information, visit leedsbuildingsociety.co.uk.