Leeds Building Society has improved pricing on a selection of its mortgage products, including its Shared Ownership and high loan-to-value (LTV) range.
Demonstrating further support for affordable housing schemes and homebuyers looking to step onto the housing ladder, the society reduced rates on 26 products across its mortgage range.
The changes reinforced Leeds Building Society’s support for the Shared Ownership model, a scheme it said was a possible solution for aspiring homeowners struggling to afford to buy a home through traditional routes.
Highlights included a Shared Ownership 2-year fixed rate mortgage at 5.99%, a Shared Ownership 5-year fixed rate mortgage at 6.14%, and a 5-year fixed rate mortgage 95% LTV at 5.86%
Jonathan Thompson, senior mortgage manager at Leeds Building Society, said: “In the first half of this year, 49% of all new borrowers to Leeds Building Society were first-time buyers.
“The changes we have made to our mortgage range shows our continued support for those looking to step onto the property ladder.”
He added: “As a key lender in the affordable housing sector, we are proud to make improvements to our Shared Ownership mortgage range.
“Shared Ownership is a great solution to help aspirational homeowners to get a foothold on the property ladder as buyers need a smaller deposit, allowing them to buy sooner than they might otherwise.
“The changes we’ve made to the mortgage range reflect our ongoing support for first time buyers, with the aim of putting homeownership within reach of more people.”
