Kim Rebecchi, sales and marketing director at Leeds, said the building society was well aware of the difficulties faced by first-time buyers getting onto the housing ladder and that finding a deposit was often the biggest barrier.
She said: “Shared ownership has been a key part of our strategy to increase lending and help more first-time buyers buy a home and we have designed these products to do exactly that.
"Shared ownership can also be a cheaper option than renting. By providing a product that offers 100% of the borrower’s share and very low set up costs, we hope that we can help customers who aspire to homeownership in 2012 and can afford the monthly payments but currently cannot save a big enough deposit to buy a share in a property and eventually own it outright."
