Shared ownership mortgage extended

08-Feb-2006

The popularity of its specially created shared ownership mortgage has encouraged Leeds Building Society to extend the offer.

To get a quote for a shared ownership mortgage click here

Helping more first time buyers to get on the property ladder through a shared ownership mortgage, the 4.99 per cent five-year fixed rate deal will now be available until April 30th 2011.

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

The product enables aspiring homeowners to take out an agreement for up to 100 per cent of their stake in the house, without a higher lending charge.

"There is constant debate surrounding the difficulties faced by first time buyers getting onto the property ladder," commented Stuart Fearn, product development manager.

"At Leeds Building Society we are committed to supporting all customers in purchasing their own home and the popularity of this product confirms this, offering an avenue to buy a first property within a fixed budget."

Mr Fearn attributed the popularity of the deal to the fact that it removed the need to raise a deposit, easing the stress for potential homeowners.

A number of first time buyers are choosing to go down the shared ownership route, as it reduces the initial financial outlay and provides the option of owning a greater share of the property in the future.

To learn more about joint ownership, buying with friends or family click here

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