Leeds launch new shared ownership mortgage

Leeds Building Society has launched a new shared ownership mortgage product, which has been designed to help first time buyers onto the housing ladder, with a competitive fixed rate for shared ownership of only 6.99%.

Paul Kaye, Leeds Building Society's General Manager Sales 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.

"This shared ownership product facilitates that first step, and provides a starting point to staircase up to full home ownership as earning potential increases.

"The product has an overall maximum LTV of 75% with a maximum borrower share of 80%, which 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 take the first step into home ownership."

For more information, customers can call into their local branch, or visit the website at leedsbuildingsociety.co.uk.