Leeds Building Society has launched a new shared ownership mortgage product, which has been designed to help first time buyers onto the housing ladder, at a fixed rate of 6.99 per cent.
Paul Kaye, Leeds Building Society's general manager sales 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 staircase up to full home ownership as earning potential increases.
"The product has an overall maximum LTV of 75 per cent with a maximum borrower share of 80 per cent, which is ideal for customers who have saved for a deposit but cannot buy a property in their own right.
"There is no doubt that this product will prove attractive to those customers who are ready to take the first step into home ownership."
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Date: 30th, June, 2010 |
Author: Ben Wilkie |
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