Leeds Building Society has launched a new shared ownership mortgage.

It is available up to 100% of the borrower’s share (maximum 75% overall loan to value) and also offers a free standard valuation worth up to £335.

It is priced at 6.49%, fixed up to and including 31 March 2014.

There is no completion fee but a £199 booking fee. It comes with tapered early repayment charges of 3% of the amount redeemed in year one and 2% in year two.

Kim Rebecchi, Leeds Building Society’s sales and marketing director, said: “We are all well aware of the difficulties faced by first-time-buyers getting onto the housing ladder and finding a deposit can often be the biggest barrier. Shared ownership has been a key part of our strategy to increase lending and help more FTBs buy a home