Leeds Shared Ownership Three-Year Fixed-Rate mortgage available

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Leeds Shared Ownership Three-Year Fixed-Rate mortgage available

Thu 11th May 2006

A Leeds Shared Ownership Three-Year Fixed-Rate mortgage has been unveiled today, with a rate of 5.49 per cent fixed until July 31st 2009.

The offer is available at up to 75 per cent loan-to-value, although it allows clients to borrow 100 per cent of their share of the property.

Tapered early repayment charges of four, three and two per cent have been set on the mortgage in the first three years and a completion fee of £299 is payable.

"The difficulties faced by first-time buyers getting on to the housing ladder are well publicised and with this in mind, we already offer shared ownership, 100 per cent and guarantor mortgages," said Stuart Fearn, product development manager at Leeds.

"With market rates recently increasing, many customers may wish to lock in value and this three-year product is fixed at 5.49 per cent, allowing first-time buyers to budget and giving them the peace of mind provided by certainty of payments."

The Leeds Shared Ownership Three-Year Fixed-Rate mortgage does not charge a higher lending charge and can be taken up by visiting a Leeds branch or logging on to the lender's website.

Leeds is the eighth largest building society in the UK with assets of over £7.1 billion and 58 branches.