Rates reduced on shared mortgage option

05-Sep-2005

Aspiring homeowners, looking for an affordable alternative to taking out a full mortgage, will benefit from the new lowered rates on one of Leeds Building Society's most popular choices.

To find out more about creative mortgages designed specifically for first time buyers click here

The Society has improved the terms of its five-year fixed rate shared ownership mortgage and has cut rates to just 4.99 per cent, helping more first time buyers to get on the first rung of the property ladder by making it easier for them when finding a mortgage.

Under the new deal, potential homeowners can borrow up to 100 per cent of their share of the mortgage and do not have to worry about paying any higher lending charge or raising a deposit.

Stuart Fearn, product development manager, urged consumers to make the most of the current cut in interest rates and said that the five-year offer provided them with "certainty of repayment".

Click here to find out about the finances of borrowing with friends, to find out how much you can borrow together and what it will cost you

Many aspiring homeowners choose to take out a shared ownership mortgage instead of going down the more traditional route, as it makes buying a home a more affordable venture and shares the responsibility of repayments.

See what’s in our unique, comprehensive and detailed joint ownership guide

Click here for our first time buyers guide to buying a property

If you want to post your comments on today's news in the FirstRung Forum click here

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