Leeds Building Society has launched a shared ownership mortgage available up to 95 per cent of a borrower’s share.
In a bid to get more first-time-buyers on the housing ladder, the company has launched the product at 5.99 per cent for three years.
It has an overall maximum loan-to-value (LTV) of 75 per cent, with a maximum borrower share of 95 per cent.
Head of intermediary sales Phil Coombes said that the product was ideal for clients who have saved for a deposit but cannot buy a property in their own right.
“We are all well aware of the difficulties facing first-time-buyers buying a home,” he said. “They can often struggle to meet the full asking price or their current income is insufficient to support a full mortgage.
“This shared ownership product facilitates that first step, and provides a starting point to staircase up to full home ownership as earning potential increases.”
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