Leeds Building Society has moved to launch a unique, cost free, shared ownership product, aimed directly at registered advisers who the use TMA Mortgage Club.
As a result, TMA club members will be able to access an exclusive two-year cut- price shared ownership mortgage. The offer is available up to a maximum of £500,000, with a 95% borrower share, at 3.89%, a discount of 1.8%. This offer comes with free standard valuation, free arrangement costs and a generous £300 cashback.
When the two years are up, the rate will revert back to a 1% discount for another three years, with no repayment charges.
‘We are constantly working with providers to ensure our club members can offer as many solutions as possible to their clients,’ said David Copland, director of TMA. ‘As the housing market changes affordability is key and products like this fee free, shared ownership one, which we have worked on with Leeds Building Society, become ever more important to ensure people in different situations are able to get onto the property ladder.’
‘The Leeds is offering an excellent market leading deal, which is sure to be attractive to clients looking at shared ownership,’ Copland added.
Louisa Sedgwick, head of intermediary distribution at Leeds Building Society said that the firm was, ‘delighted to work with TMA in strengthening a collective commitment to the DA mortgage broker. With the demand for shared ownership growing, given the diverse needs of today’s customers, this is an ideal solution for TMA members to offer to their clients.’