Leeds launches 95% shared ownership mortgage

Leeds Building Society has launched new shared ownership mortgage products, available over a 2 or 3 year period, to help first time buyers onto the housing ladder.

Related topics:  Mortgages
Millie Dyson
13th February 2012
Mortgages
Available direct, the rates begin from a competitive fixed rate for shared ownership of only 5.69%, report Leeds Building Society.

Kim Rebecchi, Leeds Building Society's Sales and Marketing Director 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.

"These shared ownership products facilitate that first step, and provide a starting point to staircase up to full home ownership as earning potential increases.

"The 2 year product at 5.69%, and the 3 year deal at 6.19%, both have an overall maximum LTV of 75% with a maximum borrower share of 95%. They are ideal for customers who have saved for a deposit but cannot buy a property in their own right.

"There is no doubt that these products will prove attractive to those customers who are ready to make the first step into home ownership."
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