Leeds launches new fixed-rate mortgages for first time buyers

31-Jan-2007

Leeds Building Society has announced a new range of fixed-rate mortgages specifically designed for first time buyers.

The mortgage provider is offering first time buyers a 100 per cent mortgage fixed over three years, in addition to a shared ownership mortgage that is also fixed for a three-year period.

For information about New Build HomeBuy, key worker schemes and shared ownership, click here.

Both products are free from any higher lending charges or completion fees and a free valuation is available up to £335.

"We are well aware of the difficulties facing first time buyers in getting a foothold on the housing ladder," said Karen Wint, head of marketing and PR at Leeds Building Society.

"With house prices showing little sign of cooling and many market commentators predicting a further rise in [interest rates,] many [first time buyers] will find it difficult to purchase their first home," she added.

With the three-year fixed-rate option, purchasing potential can be increased through the use of a guarantor.

Leeds Building Society offers a range of financial products and services, including savings accounts and credit cards.

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