Leeds Building Society has revamped its range of shared ownership mortgages, adding two new three-year fixed deals available on 90 and 95% borrower share.

The new three-year fixed products will be available alongside the existing one and five-year shared ownership mortgages.

The latest three-year fixed rate deals are 5.12% on 90% borrower share and 5.40% on 95% borrower share.

Each comes with a free standard valuation and has no product fee.

Sean Hanson, senior mortgage manager at Leeds Building Society said: “By leading the way in shared ownership, we remain steadfast in our commitment to help people onto the property ladder.

“It is now the hardest time to afford a home since our founding year in 1875, a sad reflection of decades of inaction to tackle the UK’s housing crisis.

“shared ownership remains the most effective means of reducing deposits for renters who want to become homeowners but do not yet have the means for traditional full ownership.

“We are pleased to be able to add new shared ownership mortgage products and will continue to support first-time buyers to get on the housing ladder as the 40-year-old scheme continues.”