Shared ownership mortgage revealed by Leeds
Leeds Building Society has announced it is to release a new shared ownership mortgage product.
The offer has been designed to aid first-time buyers to get onto the housing ladder and has a fixed rate of 6.99 per cent.
Paul Kaye, general manager of sales at the organisation, said the company is aware of the difficulties first-time buyers face when attempting to purchase property.
The industry figure observed: "This shared ownership product facilitates that first step and provides a starting point to staircase up to full home ownership."
It has an overall maximum loan-to-value ratio of 75 per cent and a total borrower share of 80 per cent, Mr Kaye added.
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