The 5.65% five-year fix is available on new build houses and flats up to 95% of share
Leek Building Society has introduced a new shared ownership mortgage for both existing homeowners and those looking to step onto the property ladder.
The product offers a fixed rate for five years, set at 5.65%, and is applicable to newly constructed houses and apartments, covering up to 95% of the property share.
Under this arrangement, individuals with household incomes under £80,000 in England or £90,000 in London have the opportunity to purchase a portion of their home while paying reduced rent on the remaining share.
“At Leek Building Society, we recognise the challenges many individuals encounter in realising their dream of homeownership, especially in today’s market,” stated Nikki Warren-Dean (pictured), head of intermediaries at Leek Building Society.
“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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