SimplyBiz launch Leeds shared ownership deal
One has a 95% borrowers’ share available at a fixed rate of 5.79% with a £199 booking fee and cashback of £500 payable on completion while the second product provides a borrowers’ share of up to 90% at 5.24% and total fees of £499.
Martin Reynolds, chief executive at SimplyBiz Mortgages, said: “I’m proud of the many exclusive deals we’ve been able to make available to SimplyBiz Mortgages members in the 12 months since I joined the team. The products we have just launched with Leeds are the first we’ve developed in shared ownership with a lender but this is something which I aim to do more often as we continue to strengthen our offering in 2013.”
Phil Coombes, Leeds’ head of intermediary sales, said the products were a helping hand for buyers struggling to raise their first deposit.
He 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. There is no doubt that these products will prove attractive to those customers who are ready to make the first step into home ownership.”