The Cambridge has updated its lending criteria for shared ownership remortgages.
The building society has introduced a 95% LTV remortgage option which offers a discounted variable rate product at 3.49% and a 2-year fixed rate product at 3.59%.
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 for an affordable way to own a home, it is important for us to respond with a variety of affordable lending options.
“We understand that when owning a shared ownership property, the overall goal is to own as much of your property as possible.
“With the option now available to remortgage to 95% LTV with The Cambridge, being able to staircase faster and own more of the property is now a reality.”
The Cambridge has also reduced rates by up to 0.50% across its standard 95% LTV mortgage product range.
This also applies to its ‘First Step’ 98% LTV mortgage which is designed specifically for first-time buyers with a small deposit.