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Newbury Building Society has made changes to its Shared Ownership mortgage range for customers looking to purchase using the government’s part-rent-part-buy initiative.
The Society has reduced the rate of one of its current mortgage products and has also introduced three new mortgage products to its already flourishing Shared Ownership offering.
3 year fix rate - 95% LTV - to reduce from 4.29% to 3.99%
New Shared Ownership mortgage products:
3 year fix rate at 3.49% - 90% LTV
5 year fix rate at 4.29% - 90% LTV
3 year discount rate at 2.49% - 90% LTV
Roger Knight, Lending Manager at Newbury Building Society said: “Newbury Building Society is a ‘lending veteran’ with over fifteen years of experience in this particular market and we believe this specialist area requires professional advice from a lender with experience. Our understanding in providing funding for Shared Ownership mortgages means we fully recognise what works for our customers and therefore, we introduce products which reflect their needs.”
All of these mortgage products come with a free valuation and can be used across England and Wales, and includes new builds, flats and houses.
Roger continued: “We are committed to providing accessible mortgages for those looking to purchase through the Shared Ownership scheme with a minimum deposit. We’re delighted to further expand our Shared Ownership offering and we hope to help more people across England and Wales take their first step onto the property ladder.”