Openwork teams up with Leeds

Leeds is offering a 2.35% 2-year fix up to 65% and a shared ownership 2-year fix at 4.99% available up to 95% of the borrower’s share.

Both deals come with a free standard valuation up to £335 and for standard remortgages there’s a £199 booking fee and a £200 completion fee.

Paul Shearman, mortgage, protection and general insurance proposition director of Openwork, said: “We are pleased to offer our advisers these exclusive deals with Leeds Building Society with competitive rates as well as low fees.

“The fee assisted 2-year fee fixed rate will appeal to those running remortgage campaigns. The shared ownership deal will be a valuable addition for advisers operating in this area of the purchase market.”

Phil Coombes, Leeds head of intermediary sales, said the shared ownership deal was ideal for borrowers who had saved a deposit but could not purchase a property on their own.

He said: “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, and provides a starting point to staircase up to full home ownership as earning potential increases.”