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SimplyBiz and Leeds Building Society to launch shared ownership mortgages

SimplyBiz Mortgages and Leeds Building Society are launching two shared ownership exclusive mortgage products from Thursday.

The products are both fee-assisted three-year fixed rate mortgages which are exclusive to SimplyBiz Mortgages members and have a maximum LTV of 75 per cent.

The first mortgage has a 95 per cent borrowers’ share available at a fixed rate of 5.79 per cent. There is a £199 booking fee and a cashback of £500, payable on completion.

The second product provides a borrowers’ share of up to 90 per cent at a rate of 5.24 per cent. Total fees amount to £499.

SimplyBiz Mortgages chief executive Martin Reynolds says: “I’m very proud of the many exclusive deals we’ve been able to make available to SimplyBiz Mortgages Members in the 12 months since I joined the team. The products we have just launched with Leeds Building Society are the first we’ve developed in shared ownership with a lender, but this is something which I aim to do more often as we continue to strengthen our offering in 2013.”

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