Lambeth backs share scheme
The mutual is offering a 2 year fixed rate with an initial rate of 3.68 per cent on Shared Ownership products. Loans are available for between 25 and 75 per cent of the value of the property and up to 100 per cent of the share being purchased.
The society is working with a number of Housing Associations in the south and has now processed more than £7 million of loans.
Sean Wickes, general manager sales and marketing, said: “The marketplace in the south and especially London is a key one for a society such as ours. We have a local community focus and our roots as a mutual building society have always been close to home. Helping people to get on the property ladder is a key objective of the Lambeth and we are delighted with the results of the partnerships we have established to date.”