The Cambridge updates shared ownership remortgage

Michael Lloyd

October 31, 2019

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.

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