Leeds Building Society is launching a 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 5.99%.
Kim Rebecchi, sales and marketing director at Leeds Building Society, says this shared ownership product facilitates that first step for buyers, and provides a starting point to staircase up to full home ownership as earning potential increases.
She says: “The product has an overall maximum LTV of 75% with a maximum borrower share of 95%, 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 make the first step into home ownership.”
Leeds has also launched fees assisted three-year fixed rate shared ownership products.
These products also have a maximum LTV of 75%.
The rate is 6.59% with a maximum borrower share of 80% and 6.99% with a maximum borrower share of 95%.
Both versions have a free standard valuation up to £335 and offer free in-house legal services for standard remortgages.