First time home buyer news: New shared-ownership mortgage helps first timers

29-Jun-2006

A new shared ownership mortgage from Leeds Building Society is to allow first time buyers with credit problems the opportunity to borrow 100 per cent of their share of a property at no higher lending charge (HLC).

The financial services provider will now consider a wide range of first time buyer circumstances, including county court judgements, rent arrears and defaults.

Stuart Fearn, product development manager at Leeds Building Society, said: "It is well publicised that many first time buyers need a shared ownership product to get onto the housing ladder and staircase up to owning the whole property."

The building society currently offers shared ownership mortgages to first time buyers with good credit histories, but has introduced the new product to allow all aspiring homeowners the opportunity to borrow without HLCs.

2008: May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar