Shared Ownership & Equity mortgages

Shared Ownership and Shared Equity mortgages are increasingly popular for first-time buyers looking to get on the property ladder. ‘Traditional’ mortgages typically require a significant deposit, which can be difficult for some to manage.

Purchasing a shared ownership property may relieve some of this pressure, as you will purchase only part of the property initially and pay rent to a housing association or landlord for the share you don’t yet own. You can then purchase further shares as and when you can afford to.

With a shared equity scheme, you pay a percentage of the full open market purchase price but acquire ownership of 100% of the property. The balance of the purchase price is provided by an equity sharing lender.

The Welcome mortgage works by reducing the interest rate to 0% for the first few months of the term. You’ll still need to pay the capital part of your mortgage during the Welcome period. The interest discount is calculated and repaid over the remaining term of your mortgage.

You can choose from applying online** or over the phone, and can even use our mortgage calculator and get a decision in principle today.

Warning: THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

2 Year Shared Ownership Fixed Rate Mortgages

Initial fixed rate up to and inc. 31/01/21Then the Society's SVR less 1% discount up to and inc. 31/01/24, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVBorrower share availableProduct Fee
2.84% 4.69%5.69%5.1%75%85%£999 View
Max loan amount £500,000
2.94% 4.69%5.69%5.1%75%90%£999 View
Max loan amount £500,000
3.64% 4.69%5.69%5.3%75%95%£999 View
Max loan amount £500,000

2 Year Shared Ownership Fixed Rate Mortgages - No Fee

Initial fixed rate up to and inc. 31/01/21Then the Society's SVR less 1% discount up to and inc. 31/01/24, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVBorrower share availableProduct Fee
3.19% 4.69%5.69%5.1%75%85%£0 View
Max loan amount £500,000
3.29% 4.69%5.69%5.1%75%90%£0 View
Max loan amount £500,000
3.99% 4.69%5.69%5.3%75%95%£0 View
Max loan amount £500,000

Cashback 2 Year Shared Ownership Fixed Rate Mortgages - No Fee

Initial fixed rate up to and inc. 31/01/21Then the Society's SVR less 1% discount up to and inc. 31/01/24, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVBorrower share availableProduct Fee
3.39% 4.69%5.69%5.1%75%85%£0 View
Max loan amount £500,000 / Min loan amount £50,000 / £500 Cashback upon completion
3.49% 4.69%5.69%5.2%75%90%£0 View
Max loan amount £500,000 / Min loan amount £50,000 / £500 Cashback upon completion

Legal Assisted 2 Year Shared Ownership Fixed Rate Mortgages - No Fee

Initial fixed rate up to and inc. 31/01/21Then the Society's SVR less 1% discount up to and inc. 31/01/24, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVBorrower share availableProduct Fee
3.24% 4.69%5.69%5.1%75%85%£0 View
Max loan amount £500,000
3.34% 4.69%5.69%5.1%75%90%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 27 november 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.64% and then a 1.00% discount on our current Standard Variable Rate of 5.69% for 3 years and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 24 monthly payments of £609.25, 36 monthly payments of £674.52 and 240 monthly payments of £732.90.

The total amount payable would be £215,833.33 made up of the loan amount plus interest of £94,799.33 and application fee £0, product fee £999, valuation fee £0.

The overall cost for comparisons is 5.3% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • Tapered Early Repayment Charges apply up to and including 31 January 2021.
  • Free standard valuation up to £999.
  • Interest calculated daily.
  • Maximum loan £500,000.
  • These products are not available to interest only applications.
  • These products are not portable and are not available in Scotland.

3 Year Shared Ownership Fixed Rate Mortgages - No Fee

Initial fixed rate up to and inc. 31/01/22Then the Society's SVR less 1% discount up to and inc. 31/01/24, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVBorrower share availableProduct Fee
3.39% 4.69%5.69%5.0%75%85%£0 View
Max loan amount £500,000
3.49% 4.69%5.69%5.1%75%90%£0 View
Max loan amount £500,000
4.29% 4.69%5.69%5.3%75%95%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 27 november 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £90,000.00 payable over 25 years initially on a fixed rate for 3 years at 4.29% and then a 1.00% discount on our current Standard Variable Rate of 5.69% for 2 years and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 36 monthly payments of £489.11, 24 monthly payments of £507.48 and 240 monthly payments of £551.41.

The total amount payable would be £162,159.90 made up of the loan amount plus interest of £72,124.90 and application fee £0, product fee £0, valuation fee £0.

The overall cost for comparisons is 5.3% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • Tapered Early Repayment Charges apply up to and including 31 January 2022.
  • Free standard valuation up to £999.
  • Maximum loan of £500,000.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • These products are not portable and are not available in Scotland.

5 Year Shared Ownership Fixed Rate Mortgages - No Fee

Initial fixed rate up to and inc. 31/01/24Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVBorrower share availableProduct Fee
3.89% 5.69%5.0%75%85%£0 View
Max loan amount £500,000
3.99% 5.69%5.1%75%90%£0 View
Max loan amount £500,000
4.74% 5.69%5.4%75%95%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 27 november 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £90,000.00 payable over 25 years initially on a fixed rate for 5 years at 4.74% and then on our current Standard Variable Rate of 5.69% (variable) for the remaining 20 years would require 60 monthly payments of £512.08 and 240 monthly payments of £554.05.

The total amount payable would be £163,732.30 made up of the loan amount plus interest of £73,697.30 and application fee £0, product fee £0, valuation fee £0.

The overall cost for comparison is 5.4% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • Tapered Early Repayment Charges apply up to and including 31 January 2024.
  • Free standard valuation up to £999.
  • Maximum loan of £500,000.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • These products are not portable and are not available in Scotland.

2 Year Shared Equity Fixed Rate Mortgages

Initial fixed rate up to and inc. 31/01/21Then the Society's SVR less 1% up to and inc. 31/01/24, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
3.19% 4.69%5.69%5.2%95%£999 View
Max loan amount £500,000
RATES CORRECT AS AT 27 november 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £150,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.19% and then a 1.00% discount on our current Standard Variable Rate of 5.69% for 3 years and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 24 monthly payments of £725.62, 36 monthly payments of £840.37 and 240 monthly payments of £913.10.

The total amount payable would be £267,846.86 made up of the loan amount plus interest of £116,812.86 and application fee £0, product fee £999, valuation fee £0.

The overall cost for comparisons is 5.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • Tapered Early Repayment Charges apply up to and including 31 January 2021.
  • Maximum loan £500,000
  • Free standard valuation up to £999.
  • Interest calculated daily.
  • This product is not available to interest only applications.
  • This product is not portable and not available in Scotland.

2 Year Shared Ownership Discount Rate Mortgages

Initial variable rate is the Society's SVR less a discount up to and inc. 30/04/20, (currently)TermsThen the Society's SVR less 1% discount up to and inc. 30/04/23, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVBorrower Share availableArrangement Fee
3.39% The Society's SVR less 2.30%4.69%5.69%5.2%75%90%£0 View
Max loan amount £500,000
3.59% The Society's SVR less 2.10%4.69%5.69%5.2%75%95%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 10 NOV 2017

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £83,000.00 payable over 25 years initially on a 2.10% discount on our current Standard Variable Rate of 5.69% for 2 years and then a 1.00% discount on our current Standard Variable Rate of 5.69% for 3 years and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 24 monthly payments of £419.16, 36 monthly payments of £466.37 and 240 monthly payments of £506.74.

The total amount payable would be £148,501.18 made up of the loan amount plus interest of £65,466.18 and application fee £0, product fee £0, valuation fee £0.

The overall cost for comparison is 5.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • Tapered Early Repayment Charges apply for the first 2 years.
  • 10% capital repayments allowed each year.
  • Maximum loan amount £500,000 applies.
  • Free standard valuation up to £999.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • These products are not portable and are not available in Scotland.

2 Year Scottish LIFT Fixed Rate Mortgages

Initial fixed rate up to and inc. 31/01/21Then the Society's SVR less 1% discount up to and inc. 31/01/24, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
3.19% 4.69%5.69%5.2%95%£999 View
Max loan amount £500,000
RATES CORRECT AS AT 27 november 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £150,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.19% and then a 1.00% discount on our current Standard Variable Rate of 5.69% for 3 years and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 24 monthly payments of £725.62, 36 monthly payments of £840.37 and 240 monthly payments of £913.10.

The total amount payable would be £267,846.86 made up of the loan amount plus interest of £116,812.86 and application fee £0, product fee £999, valuation fee £0.

The overall cost for comparisons is 5.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • Tapered Early Repayment Charges apply up to and including 31 January 2021.
  • Free standard valuation up to £999.
  • Interest calculated daily.
  • Maximum loan £500,000.
  • These products are not available to Interest Only applications.
  • These products are not portable and only available in Scotland.

5 Year Shared Ownership Welcome Rate Mortgages - No Fee

Initial interest rate fixed for first 3 monthsThen changing to a fixed rate, up to and inc. 31/01/2024, of:Then the Society's SVR thereafter (currently)Overall cost for comparison (APRC)Max LTVBorrower share availableProduct Fee
0.00%4.23%5.69%5.1%75%90%£0 View
Max loan amount £500,000
0.00%5.13%5.69%5.4%75%95%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 27 november 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £90,000.00 payable over 25 years initially on a fixed rate for 3 months at 0.00% and then a fixed rate for 57 months at 5.13% and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 3 monthly payments of £300.00, 57 monthly payments of £529.75 and 240 monthly payments of £554.72.

The total amount payable would be £164,263.49 made up of the loan amount plus interest of £74,228.49 and application fee £0, product fee £0, valuation fee £0.

The overall cost for comparison is 5.4% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply up to and including 31 January 2024.
  • You will still need to pay the capital part of your mortgage during the Welcome period.
  • Free standard valuation up to £999.
  • Maximum loan £500,000.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • These products are available for purchase only applications.
  • These products are not portable and are not available in Scotland.
  • Extra help and guidance

    If you want help and support with your application call a Mortgage Assistant

    03450 50 50 62(press option 2)

  • Talk to an expert now

    When you're ready to apply for a mortgage, call to request to speak to a Mortgage Consultant

    03458 48 00 26 (press option 1)

** If you apply for a mortgage online you will not receive advice from Leeds Building Society. You will need to make your own choice about which mortgage is suitable for you and we will not assess the suitability of that mortgage to your needs and circumstances. You will not benefit from the protections offered by an advised service. This is called an execution only transaction. If you would like to receive guidance from us please call our Direct Mortgage Unit on 03444 175 785. We’re open 8am to 8pm Monday to Friday and 9am to 5pm Saturday.