Leeds Building Society Credit Impaired Mortgage launched

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Leeds Building Society Credit Impaired Mortgage launched

Wed 28th Jun 2006

A new Leeds Building Society Credit Impaired Mortgage with the specific aim of supporting people with impaired credit ratings, has been launched.

The Leeds Building Society Credit Impaired Mortgage should suit those who need a shared ownership product in order to get into the housing market.

There are no higher lending charges on the new product and clients can borrow the full amount of their share of the property.

It is hoped that the Leeds Building Society Credit Impaired Mortgage will enable people to "spiral" up the property ladder and so have a chance to completely own their own property.

Stuart Fearn, product development manager at Leeds Building Society, commented: "We already offer shared ownership products for customers with good credit and it is clear that if a customer has impaired credit and needs shared ownership, they have very little opportunity to own their own home."

Leeds Building Society is the UK's eighth largest and the company is headquartered in Leeds.

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