Leeds Building Society launch
100% fixed & shared ownership mortgage
A 100% fixed rate and Shared Ownership
rate mortgage has been launched from Leeds Building Society. It
is here today to help first time buyers FTB’S get on the
property ladder, this type of mortgage also leaves people in a
stress free position. Leeds Building Society have designed this
mortgage to give first time buyers a chance to make a budget knowing
that at the end of the month the mortgage repayments will not
The other advantage is that there are
no lending charges also any completion fees. Many people today
are deciding to take on this type of mortgage because it’s
basically a stress free mortgage deal.
"We are all well aware of the
difficulties facing first time buyers in getting a foothold on
the housing ladder. With house prices showing little sign of cooling
and many market commentators predicting a further rise in Base
Rate, possibly as early as next month, many FTBs will find it
difficult to purchase their first home.
"Importantly, with the 3 year
100% fixed rate mortgage, FTBs do not incur any up front costs
and can budget effectively with certainty of payments. Furthermore,
they can also use a guarantor to increase their purchasing capability.
"The Shared Ownership product
is also fixed for 3 years and is an excellent alternative. Customers
can borrow 100% of their share, again avoiding the need to use
any savings they have as a deposit and still benefit from fixed
payments. They also have the option to buy further shares at a
later date until the own the whole property." Said Head of
Marketing, Karen Wint.
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