The lender launched its shared ownership proposition to the market late last year, with the deals aimed at first-time buyers and borrowers with limited affordability.
The additional products will allow existing shared ownership borrowers to remortgage to Newcastle Building Society, while staircasing will allow shared ownership buyers to increase their share of the property up to 100 per cent at increments of five per cent.
There is a five-year fixed rate at 6.5 per cent with £999 fee and a no-fee version at 6.7 per cent with a free standard valuation.
Both products allow 10 per cent overpayments and early repayment charges of five per cent in the first year, which then decrease by one per cent per year of the term.
There is a maximum household income of up to £80,000 or £90,000 in London, a maximum loan amount of 95 per cent loan to value (LTV) of the borrowers’ share.
Franco Di Pietro, head of intermediaries at Newcastle Building Society, said: “Given the current mortgage market and inflationary pressures, innovative solutions that help address borrowers’ affordability challenges are even more crucial to enabling people to achieve the dream of homeownership.
“Since launch we have supported many borrowers onto the shared ownership scheme. The introduction of our remortgage and staircasing proposition will provide brokers and their clients the opportunity to support even more shared ownership customers.”
