Leeds Building Society shared ownership mortgages aimed at first-time buyers

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Leeds Building Society shared ownership mortgages aimed at first-time buyers

Thu 6th May 2010

First-time buyers could be offered a route on to the property ladder with the aid of a Leeds Building Society shared ownership mortgage, according to a representative from the firm.

General manager of marketing & business development Martin Richardson noted that these new products could be attractive to people wanting to own their own home, but who do not have enough saved up to afford the full deposit on a property.

The Leeds Building Society shared ownership mortgages are available for up to 95 per cent of the share being bought by the applicant.

"These shared ownership products facilitate that first step, with only a small deposit required and provide a starting point to staircase up to full home ownership," commented Mr Richardson.

Applicants can choose between a fees-assisted fixed-rate or variable-rate with cashback mortgage.

The firm recently unveiled its new five-year fixed-rate mortgage range, which Mr Richardson described as a "fantastic opportunity" for people to fix their lending at a low rate.

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