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Buckingham BS rejoins shared ownership market with refreshed range
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.
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“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.”