Leeds launches loan for shared ownership

It has a fixed rate for shared ownership of 6.19% and an overall maximum LTV of 75% with a borrower share of up to 95%.

Commenting, 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. This shared ownership product facilitates that first step, and provides a starting point to build up to full home ownership as earning potential increases.

"The product has an overall maximum LTV of 75% with a borrower share of up to 95%, which is ideal for customers who have saved for a deposit but cannot buy a property in their own right.”

 

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