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.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Iress
Iress announces major upgrade to Xplan Mortgage platform
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
Lloyds
Lloyds partners with Connells and LMS to launch fully digital homebuying journey
FCA
FCA sued over compensation scheme that 'significantly underestimates harm'
FCA
FCA announces changes to streamline senior managers regime
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
