LBS offers more choice for Shared Ownership borrowers
Borrowers seeking a Shared Ownership mortgage are being offered a new five year fixed rate deal from Leeds Building Society – at a competitive rate of 5.39%.
The mortgage is available up to 95% of the borrower’s share of the property value.
"We've introduced this five year version of our Shared Ownership mortgage responding to feedback from brokers and customers that there was demand for a longer-term fixed rate deal," said Martin Richardson, Leeds Building Society's General Manager – Business Development.
"This mortgage comes with a low fee of £199 and a free standard valuation, which will help to lower upfront costs for borrowers.
"Shared Ownership mortgages are just one of the ways we can help borrowers with smaller deposits and we are unusual among lenders in offering traditional 95% LTV (loan to value) mortgages, as well as through the Government’s Help to Buy Equity scheme.”
Notes to Editors
To discuss a new case with one of our mortgage development team, mortgage introducers should go to www.leedsintroducer.co.uk to find details of their nearest Business Developer contact.
5 Year 5.39% Fixed Rate Shared Ownership mortgage up to and including 30th September 2019:
- 5 Year Shared Ownership Fixed Rate up to and including 30th September 2019, at 5.39% available up to 75% LTV
- £199 Booking Fee
- No Arrangement Fee
- Free standard valuation up to £335
- 95% Borrower Share available
- Tapered early repayment charges of 5/4/4/3/2% of the amount redeemed
- No capital over repayments allowed
- Maximum loan of £500,000
Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £11.2bn (as at 31 December 2013). The Society has operated from the centre of Leeds since 1886.