The Cambridge has refreshed its shared ownership mortgage range, reducing rates on its 95% LTV products and offering the range to the whole of market.
Its 2-year fixed rate product saw its rate drop by 0.15% to reach 3.44% whilst its 2-year discounted rate product had its rate cut by 0.25% to reach 3.24%.
Dan Barker, product manager at The Cambridge, said: “As the shared ownership market grows with first, second and even third time buyers looking to shared ownership properties as an affordable way to own a home, it is important for us to respond with a variety of affordable and accessible lending options.
“With us now extending our shared ownership offering to more intermediaries across England and Wales, my team is looking forward to helping people have a home in Cambridgeshire and beyond.”
The lender has also lowered its minimum loan size for purchase and remortgage to £20,000.
In addition, the £199 application fee for shared ownership mortgages is now no longer required upfront and can be added to the loan on completion to reduce upfront costs.
Alongside this refresh, The Cambridge now offer its shared ownership range to the whole of market nationally after previously limiting distribution to selected partners and clubs.