Leeds Building Society has launched a new shared ownership mortgage range, with which it claims customers can save up to £535.

The booking fee has been cut by £200, while the mutual is also offering a free standard valuation up to £335.

Rates across the shared ownership range have been cut by up to 0.3%.

The Leeds is also offering free legal services for re-mortgages on selected products.

The new shared ownership mortgage range starts with a two-year fixed rate at 6.19%, with an overall maximum LTV of 75% and a maximum borrower share of 95%.

Three-year fixed rate products are available up to 75% LTV, at 6.29% with a maximum borrower share of 80%, and at 6.69% with a maximum borrower share of 95%.

Kim Rebecchi, Leeds Building Society’s sales and marketing director, said: “These new products have been designed to help first time buyers onto the housing ladder. We are pleased to offer them help with up front costs as they can save up to £535 by us reducing the booking fee by £200 and offering them a free valuation up to £335. This is in addition to reducing rates by up to 0.3% across our shared ownership range