The Loughborough launches shared ownership mortgages

Michael Lloyd

April 26, 2018

Loughborough Building Society has launched a range of shared ownership mortgages to directly authorised brokers.

Up to 95% of the share can be purchased on houses in England and Wales, the share being 25%-75% of the property value.

Ashley Pearson, business development manager, said: “I’m really passionate about the shared ownership proposition.

“I purchased my first home in 2003 using the scheme through a local housing association. It allowed me the chance at a young age to step on to the property ladder.

“I feel that it is important as a mutual that we offered this type of mortgage to allow more people to become homeowners.”

He added “We realised through research and discussions with housing associations and intermediaries that there is an increasing demand for this type of mortgage”.

There’s discounted and fixed rates and no upfront fees.

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