The Shared Ownership scheme is a cross between buying and renting and allows the purchaser to buy a share in a property usually between 25% - 75% of the purchase price, and then pay rent on the remaining share. Also, you only need to pay a deposit on the part of the property you are buying, making it an affordable option to purchase a home with a lower deposit than if buying outright.
Our video explains what Shared Ownership is and how it could help you onto the property ladder.
Please note: Shared Ownership Mortgages are subject to the Society's lending criteria. Newbury Building Society's minimum age requirement is 21 and for UK residents only.
We originally took our first mortgage out with Newbury as we bought a shared ownership property and only a few lenders provided this. When it came to renewal we decided to do an interim staircase to buy a larger percentage of our property and Newbury were amazing. We tried various brokers who told us we could only afford a lower amount, but decided to go direct to Newbury as our current provider. Their help and support through the whole process has been great! Unless something drastically changes, we will stay with them for many years to come!
For further information on mortgage appointments see our making a mortgage appointment page for further details.
Appointments can be made during branch operating hours including Saturday mornings with our qualified mortgage advisers and can be undertaken by telephone, videocall or in one of our branches.
Appointments are available by video call, phone and in branch.Book now
The government website Own Your Home has full details about the Shared Ownership scheme.Visit site
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|Product||Initial rate||APRC||Mortgage fees||Max LTV||Features|
|Existing Borrower Shared Ownership 3 year discount 90% LTV||2.49%discounted||3.7%||£0 None None None||90%|
|Shared Ownership 3 year discount 95% LTV||2.64%discounted||3.8%||£0 None None None||95%|
|Shared Ownership fixed rate until 29 July 2025 95% LTV||3.69%fixed||4.1%||£0 None None None||95%|
|Shared Ownership fixed rate until 29 July 2027 95% LTV||3.89%fixed||4.1%||£0 None None None||95%|
|Shared Ownership fixed rate until 29 September 2024 95% LTV||3.69%fixed||4.1%||£0 None None None||95%|
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