The UK's 5th largest building society, which increased its lending to FTBs by 85% in the first half of this year, has launched a product that does not require any deposit from the borrower and also offers a free standard valuation worth up to £335.
Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said:
"We are all well aware of the difficulties faced by FTBs getting onto the housing ladder and finding a deposit can often be the biggest barrier. Shared Ownership has been a key part of our strategy to increase lending and help more FTBs buy a home, and we have designed these products to do exactly that.
"Shared Ownership can also be a cheaper option than renting. By providing a product that offers 100% of the borrowers share and very low set up costs, we hope that we can help customers who aspire to homeownership in 2012 and can afford the monthly payments, but currently cannot save a big enough deposit, to buy a share in a property and eventually own it outright."
