Buckinghamshire Building Society has re-entered the shared ownership market with additional products and updated criteria.
The mortgage is a three-year discount product with no application fee, available for both purchase and remortgage against properties in England and Wales. The rate is 2.12 per cent lower than the mutual’s standard variable rate which is currently 6.89 per cent.
The product is available for share purchases of 25 to 75 per cent at a maximum loan to share of 95 per cent. It can be lent against flats which are a maximum of six storeys high and the lease must allow for staircasing to 100 per cent.
The mutual’s standard credit criteria applies.
‘Shared ownership is a great solution for FTBs’
Claire Askham (pictured), head of mortgage sales at Buckinghamshire Building Society, said: “We’re always looking for ways to improve and expand our mortgage proposition.
“With the end of the Help to Buy scheme fast approaching, we feel it’s important to find alternative ways to support the affordable housing market and shared ownership is a great solution for many first-time buyers to take that leap and get a foothold on the property ladder.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
