The society has also extended the geographical coverage and broker distribution for its house purchase products. The range includes a two-year fixed rate and a two-year discounted rate mortgage, both available up to 95% of the borrower’s share and 75% of the property value.
The range is available to all brokers for properties in England and Wales, excluding homes within the M25.
A two-year fixed rate product and two-year discounted rate product available for house purchase, remortgage and staircasing will be available through specialist shared ownership brokers with the same loan-to-value limits and geographical criteria.
In late December, the government announced an expansion of its shared ownership scheme to allow an additional 175,000 aspiring homeowners to join the initiative.