Leek BS launches shared ownership mortgage

The mortgage is available to first-time buyers and those moving up the property ladder.

Related topics:  Mortgages,  Shared ownership
Rozi Jones | Editor, Financial Reporter
25th January 2024
Leek BS Head Office
"Our shared ownership mortgage is there to lend a helping hand to those struggling to secure substantial deposits and first-time buyers seeking a foothold on the property ladder."
- Nikki Warren-Dean, head of intermediaries at Leek BS

Leek Building Society has launched a new shared ownership mortgage, available to both current and aspiring homeowners.

The shared ownership product is fixed for five years at 5.65% and is available on new build houses and flats up to 95% of share.

Buyers with household incomes below £80,000 in England (£90,000 in London) can purchase a portion of their home while paying subsidised rent on the remaining share.

Nikki Warren-Dean, head of intermediaries at Leek Building Society, said: "At Leek Building Society, we recognise the challenges many individuals encounter in realising their dream of home ownership, especially in today's market.

"Our shared ownership mortgage is there to lend a helping hand to those struggling to secure substantial deposits and first-time buyers seeking a foothold on the property ladder.”

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