The Leeds Building Society has launched an exclusive, fee free, shared ownership product for directly authorised (DA) advisers who use TMA Mortgage Club.

TMA club’s DAs will now have access to an exclusive two-year discount shared ownership mortgage.  The offer is available up to a maximum of £500,000, up to 95% borrower share, at 3.89%, a discount of 1.8%.

The deal comes with free standard valuation, no arrangement fee and a £300 cashback.  After two years the rate will revert to a 1% discount (currently 4.69%) for a further three years with no early repayment charges.

David Copland, director of TMA, said: “We are constantly working with providers to ensure our club members can offer as many solutions as possible to their clients.  As the housing market changes affordability is key and products like this fee free, shared ownership one, which we have worked on with Leeds Building Society, become ever more important to ensure people in different situations are able to get onto the property ladder.

“The Leeds is offering an excellent market leading deal, which is sure to be attractive to clients looking at shared ownership.”

Louisa Sedgwick, Leeds Building Society head of intermediary distribution, added: “Leeds Building Society is delighted to work with TMA in strengthening a collective commitment to the DA mortgage broker. With the demand for shared ownership growing, given the diverse needs of today’s customers, this is an ideal solution for TMA members to offer to their clients.”