Shared Ownership fixed rate until 29 July 2027 95% LTV

Key Features

Mortgage type 
  • A fixed rate mortgage has an interest rate that stays the same for a set period of time. During the fixed rate period your monthly repayments stay the same. At the end of the fixed rate period the interest rate will change, usually to the lender's standard variable rate (SVR).
Interest rates 
  • 5.59% fixed until 29 July 2027 changing to our Standard Variable Rate (SVR) for the remainder of the mortgage. Remortgages are accepted but only when releasing capital for staircasing.
Minimum share of property being purchased 
  • 25%
Maximum loan to value of share 
  • 95 %
  • Overpayments allowed
  • Free valuation
Loan size 
  • Minimum loan size is £40,000. Maximum loan size (purchase): Up to 85% share to value = £400k Up to 90% share to value = £350k Up to 95% share to value = £300k Maximum loan size (remortgage): Up to 80% share to value = £400k Up to 95% share to value = £300k
Early repayment charge (ERC) 
  • The Early Repayment Charge (ERC) period applies from the date of completion.
  • For this product the ERC period is until 29 July 2027.
  • ERC is 3% to 29 July 2026 and then 2% to 29 July 2027 of the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product).
  • The full ERC is payable on the original loan amount if you repay your mortgage in full during the ERC period. The ERC will also be levied on previously permitted overpayments.
  • During the ERC period you are permitted to make overpayments up to 10% of the original loan amount per year. If overpayments exceed 10% in a year during the ERC period, you will have to pay the relevant ERC percentage rate on the amount of overpayment exceeding the permitted level.
  • The mortgage term must be between 5 and 40 years.
  • Products are available to those purchasing or remortgaging their residential home, on shared ownership basis, subject to product terms.
  • The mortgage must be on a capital and interest repayment basis.
  • The property must be located in England or Wales. All properties in the following London postcodes are restricted to 60% loan to value: E, EC, N, NW, SE, SW, W, WC. Flats in the following London postcodes are restricted to 60% loan to value CR, EN HA, IG, KT, RM, SM, TW UB.
  • Minimum property value of £150,000
Representative example

A mortgage of £116,000 payable over 35 years initially on a fixed rate for 3 years at 5.59% and then on our standard variable rate, currently 7.00% for the remaining 32 years would require 36 monthly payments of £629.79 and 384 monthly payments of £735.03.

The total amount payable would be £305,023.96 made up of the loan amount plus interest of £188,923.96 and a MEAF of £100.

The overall cost for comparison is 6.9% APRC representative.

Additional information



    Legal costs

  • Legal work is required when buying your home and is carried out by a solicitor, payable by you. We can use the same solicitors as you, providing there is a minimum of four Approved Managers/ Licence Holders and they are registered on The Law Society website ( Licenced conveyancers are also acceptable for residential business only. The conveyancer must be registered with the Council of Licenced Conveyancers and be in a firm with at least four Approved Managers/Licence Holders.
  • Incentives

  • We will carry out a standard mortgage valuation at our cost, providing the mortgage completes. You can upgrade to a Home Buyers report if you wish and if you would prefer a full building survey, we can give you the names of some local surveyors who can organise this for you.
  • You can upgrade to a Home Buyers report if you wish and if you would prefer a full building survey, we can give you the names of some local surveyors who can organise this for you. (see our Mortgages Explained booklet for valuation and home buyer fees).
  • Qualification

  • You need to be accepted by a zone agent, housing association or local council for the Shared Ownership scheme.
  • Share of property

  • Your share of the property must be between 25% and 75% of the purchase price or valuation (the lower of the two). You can borrow up to 95% of your purchase share.
  • Fees

  • A Mortgage Exit Administration Fee (MEAF) applies when you repay your mortgage. Please see our Tariff of charges leaflet and your European Standardised Information Sheet (ESIS) for details.
  • Timescales

  • House purchases must complete within six months of the date of the formal mortgage offer. Remortgages must complete within three months from the date the application is received. Further advances must complete within three months of the date of the further advance offer.
  • For new build properties the mortgage offer is valid for up to 6 months. The application must be able to complete in the product time scales. Therefore, the new build property must be completed and available for occupation within six months of the mortgage offer.
  • Portability

  • All our mortgages are portable, which means that if you move house within an early repayment charge period the product can be transferred to your new mortgage, up to the value of the product outstanding at redemption, without charge. If the loan amount on your new mortgage is lower, there may be a charge based on the difference between the old and the new loan amount. A higher lending charge may be applicable for the new mortgage.
  • Other charges

  • Charges applying to the ongoing administration of your mortgage are detailed in our Tariff of charges PDF, which you will be given before your mortgage completes.
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