The five-year fixed-rate shared ownership mortgage deal offered by Leeds Building Society has been extended by the mortgage lender.
Offering a mortgage rate of 4.99 per cent, the mortgage deal now has a fixed period that ends on April 30th 2011.
Mortgage borrowers can borrow the full amount of their share in the property without having to pay a higher lending charge.
There is "constant debate" about the difficulties potential first-time buyers face in their struggle to enter the property market, says Stuart Fearn, the product development manager at Leeds.
He says the mortgage lender is "committed to supporting all customers in purchasing their own home", something that is confirmed by this mortgage deal's "popularity".
Mr Fearn highlights the fact that first-time buyers do not have to save money towards a deposit with this deal.
"Once customers are comfortable with the monthly payments we will work with them to purchase a greater share of the property until they eventually own the property outright," he concludes.
The mortgage deal is available to borrowers at Leeds branches or via the mortgage lender's website or mortgage telephone hotline.
Mortgage lender extends deal
Mortgage Quote Line
0845 108 0505
Mortgage lender extends deal
Mon, 06 Feb 2006
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