The Leeds Building Society has introduces a new range of shared equity mortgages to support the relaunch of First Home Fund.
Fee free fixed rate deals up to 85% loan to value (LTV) with £500 cashback are among the newest additions to the Leeds Building Society’s mortgages for Scottish borrowers.
It will launch a range of products on Thursday, 1 April for shared equity customers including:
- two year fixed rate at 2.14% available up to 75% LTV
- two year fixed rate at 3.09% available up to 85% LTV
- five year fixed rate at 3.14% available up to 85% LTV
Each of the above comes with no product fee and £500 cashback.
The launch of the range coincides with the re-introduction of the First Home Fund, an affordable housing scheme for first time buyers in Scotland.
Matt Bartle, director of products at the Leeds Building Society, said: “As a lender we are keen to support first time buyers and help more people in Scotland take a first step on the housing ladder.
“We have drawn on our experience within the shared equity market, our popular previous products, and consulted with intermediaries to design a range that will support First Home Fund and other shared equity schemes.
“We understand that everyone’s individual circumstances are different and so we use our experience to offer incentives which help a range of different customers, including fee free and cashback options. Cash available at the start of a mortgage, for example, is often handy to cover some of the costs associated with buying and moving into a new home.”