The product will offer a three year fees assisted fixed rate shared ownership up to and including 30th November 2016 at a rate of 5.09%. It is available up to 75% LTV.
The move follows on from the exclusive launched earlier this week with Leeds Building Society and will also offer no higher lending charge, no completion fee, free standard valuation up to £335, £200 cash back upon completion and most significantly 95% borrower share is also available. The product will carry a £199 booking fee and applies to a maximum loan of £750,000.
Martyn Smith, head of mortgage products, Legal & General Network, says:
“This new 95% borrower share exclusive from Leeds Building Society compliments the 90% borrower share deal we launched last week, providing Legal & General Mortgage Club members yet more choice for their customers. Once again fees have been kept to a minimum, making this exclusive great value and easy to access.”
Phil Coombes, Head of Intermediary Sales at Leeds Building Society, says:
“Undoubtedly it’s difficult for first time buyers at the moment. It’s pleasing therefore to be able to offer another exclusive with Legal & General Mortgage Club. This shared ownership product is one of the many ways we are trying to help new buyers take their first step on to the ladder and follows on from the product we launched with Legal & General Mortgage Club last week.”
