Leeds Building Society has launched new shared ownership mortgage products, available over a two or three year period, to help first time buyers onto the housing ladder.
The rates begin at 5.69 per cent. 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 two year product at 5.69 per cent, and the three year deal at 6.19 per cent, both have an overall maximum LTV of 75 per cent with a maximum borrower share of 95 per cent. 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.”
