Newbury Building Society has launched two shared ownership products both at 85% LTV.
One is a 3-year fixed at 3.19%, the other a 3-year discount at 2.44%. The products are designed for those who have at least a 15% deposit of the share they are buying and can be used to purchase new build properties; both houses and flats. The 3-year fixed is also application fee free.
Roger Knight, lending manager at Newbury Building Society said: “We are delighted that our Shared Ownership mortgage book now boasts of 9 strong purchase-only mortgage products, available to those looking to purchase using the government’s part-rent-part-buy scheme.
“Today’s launch is aimed specifically at those who have a minimum of 15% of a deposit available with the choice of fixing for a number of years or borrowing on the variable.”