Leek BS launches shared ownership mortgage
The mortgage is available to first-time buyers and those moving up the property ladder.
"Our shared ownership mortgage is there to lend a helping hand to those struggling to secure substantial deposits and first-time buyers seeking a foothold on the property ladder."
- Nikki Warren-Dean, head of intermediaries at Leek BS
Leek Building Society has launched a new shared ownership mortgage, available to both current and aspiring homeowners.
The shared ownership product is fixed for five years at 5.65% and is available on new build houses and flats up to 95% of share.
Buyers with household incomes below £80,000 in England (£90,000 in London) can purchase a portion of their home while paying subsidised rent on the remaining share.
Nikki Warren-Dean, head of intermediaries at Leek Building Society, said: "At Leek Building Society, we recognise the challenges many individuals encounter in realising their dream of home ownership, especially in today's market.
"Our shared ownership mortgage is there to lend a helping hand to those struggling to secure substantial deposits and first-time buyers seeking a foothold on the property ladder.”
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