28
Jun
Leeds Building Society launches first-time buyer shared ownership
scheme
Leeds Building Society has announced its new shared ownership
mortgage initiative, which is aimed at encouraging first-time
buyers to get on the property ladder.
The mortgage, which has a loan-to-value of 75 per cent and a
maximum borrower limit of 80 per cent, has been launched to help
customers who already have a substantial deposit.
Leeds Building Society's general manager of sales Paul Kaye said:
"This shared ownership product facilitates that first step and
provides a starting point to staircase up to full home ownership as
earning potential increases."
He added that this deal will be attractive to first-time buyers who
might not be able to afford a full mortgage but want to start
investing in property.
Last week, managing director of FirstRungNow.com Helen Adams
suggested that the forthcoming increase in capital gains tax from
18 per cent to 28 per cent could be good for first-time buyers, as
it is likely to make house prices fall.
