Leeds offers exclusive deal to PMS and Sesame ARs

Robert McCoy, senior product and communications manager for PMS, said the product would offer clients the certainty of a fixed rate.

He said: “I am sure this will be popular with our members and their shared ownership clients looking for the security of a fixed rate. We look forward to working alongside the Leeds Building Society with this product and their flexible approach to this type of lending.”

The shared ownership product is 5.89 per cent, fixed until 31 March 2014, with a maximum of 75 per cent LTV, and a £199 booking fee.

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It has no completion fee and an early repayment charge of 3 per cent until the end of March 2013, and 2 per cent until the end of March 2014.

Phil Coombes, head of intermediary sales for Leeds Building Society, said: “This is a great opportunity to provide Sesame and PMS members with a product that will help give their clients the chance to lock into a two-year rate – offering them peace of mind until 2014.”

It comes after Sesame Bankhall promised a series of innovations in 2012 to support advisers after revealing a restricted advice proposition and technology partnership.

Speaking at the Sesame Symposium in London, George Higginson, chief executive of Sesame Bankhall Group, said while the firm favoured independence, it was in talks with providers such as Aegon, Friends Life and Nationwide to provide restricted panels by the middle of next year.

He said: “Our long-term commitment is to independence. It will remain a core market, but we also believe in offering choice.”