Back to June 2018

Leeds extends award-winning Mortgage to Shared Ownership market

  • The only UK mortgage to offer an interest rate of 0% for the first three months
  • Five year fixed rate products available up to 95% borrower share

Five years after it introduced the award-winning Welcome mortgage, Leeds Building Society has extended availability to include Shared Ownership mortgages.

Speaking ahead of the National Housing Federation’s Affordable Home Ownership Conference, Jaedon Green, Leeds Building Society’s Director of Product and Distribution, said: “Leeds Building Society has extensive experience and expertise, working with the affordable housing sector and is a leading provider of Shared Ownership mortgages up to 95% borrower share.

“Welcome is a natural extension of our Shared Ownership proposition and it helps ease the transition into home ownership. Borrowers continue to pay the capital but Welcome provides valuable breathing space with an interest rate of 0% for the first three months.”

Kelly McCabe, Managing Director at TMP The Mortgage People, said: “Leeds Building Society has been steadfast in its support for Shared Ownership and genuinely understands the challenges of our customers. This is a great addition to their range and provides borrowers with extra choice.”

Leeds Building Society’s Welcome Shared Ownership range includes:

  • No fee 5.13% five year fixed rate Welcome Shared Ownership mortgage with 95% borrower share, three months 0%, available up to 75% LTV

Added incentives include a free standard valuation to further minimise the up-front costs of moving.

Leeds Building Society launched the award-winning Welcome Mortgage in 2013 and Welcome remains unique; the only UK mortgage to offer an interest rate of 0% for the first three months.


Notes to Editors

Welcome mortgages come with a 0% interest rate for the first three months of the loan, meaning costs are reduced for borrowers as they only repay the capital during this period.

Welcome Shared Ownership Fee Saver 95% borrower share 3 months 0% then 5.13% until 31st August 2023

  • 0% for first three months
  • Then 5.13% fixed up to and including 31st August 2023
  • Available up to 75% LTV
  • Free standard valuation up to £999
  • Up to 10% capital overpayment allowed penalty-free each year
  • Tapered early repayment charges (5/5/4/3/2%) until 31st August 2023
  • For purchase only
  Welcome Shared Ownership Standard Equivalent Mortgage  
Fixed term Borrower share 0% period Revert rate for remainder Interest paid over product term Rate Interest paid over product term Difference paid over product term
Five years 95% 3 months 5.13% £22,278.57 4.84% £22,284.58 -£6.01

To discuss a new case with one of our mortgage development team, mortgage introducers should go to to find details of their nearest Business Developer contact.

Leeds Building Society won the title of Best Shared Ownership Mortgage Lender in the 2017 What Mortgage Awards, its second consecutive year of success in this category.

Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £18.5bn at 31st December 2017 (£15.9bn at 31st December 2016). The Society’s head office has been based in the centre of Leeds since 1886.