The Leeds Building Society has launched a new shared ownership mortgage product.

It is a fixed rate at 6.19%.

The product has an overall maximum LTV of 75% with a borrower share of up to 95%.

Phil Coombes, Leeds Building Society’s head of intermediary sales, said: “We are all well aware of the difficulties facing first time buyers buying a home. They can often struggle to meet the full asking price or their current income is insufficient to support a full mortgage. This shared ownership product facilitates that first step