Leek BS launches shared ownership mortgage
The mortgage is available to first-time buyers and those moving up the property ladder.
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.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Lloyds
Lloyds sets aside extra £4bn for high-LTI mortgage lending
Santander
Santander to acquire TSB in £2.65bn deal
Bank Of England
Bank of England issues first-of-its-kind fine of £11.9m
Regulation
Lenders urged to prepare for court ruling on commissions as motor finance complaints surge
Financial Conduct Authority
FCA moves ahead with targeted support in 'transformational' advice reforms
Government
Government confirms launch of permanent Freedom to Buy mortgage scheme
