Shared Ownership Mortgages

¹ Subject to product availability.
² We look at conduct - we credit search rather than credit score.

  All residential buyers are welcome including first time buyers

  Maximum loan to value is 95% of applicant's share

  Applicant's share to be a minimum of 25% of the property price up to 75% of the property price

  Minimum loan £25k, maximum loan £500k

  Maximum term of 40 years (lending into retirement not permitted)

  Maximum age of the applicants at the end of the mortgage term that we will consider is 69 years

  Further advances will be considered for staircasing at 10% increments, up to a maximum of 75% LTV

  Available throughout England

  Only available on a capital and interest repayment strategy

  Family gifted deposit is acceptable

• What is a shared ownership mortgage?
  • Shared ownership is where your clients own a percentage of a property and a housing association or the government 'owns' the rest, renting it to your client at a reduced rate. This often means a lower deposit is needed to buy a house.

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• Who is eligible for a shared ownership mortgage?
  • Applicant's with a household incomes below £90,000 in London, or £80,000 outside of London, is eligible for a shared ownership mortgage. This is only available for residential purchases.

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• Is this only available for First Time Buyers?
  • No. Shared ownership is available for both first time buyers and next time buyers moving up the property ladder.

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• Is this available throughout England and Wales?
  • Our shared ownership products are only available for properties in England.

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• Which shared ownership schemes are not available through Leek Building Society?
  • Older persons shared ownership, designated protected/rural areas and home ownership for people with longer term disability (HOLD) are not available through our shared ownership scheme.