Newbury Building Society has released a duo of three-year fixed rates at 85 per cent loan to value (LTV) for shared ownership customers.
The three-year fixed rate is 5.89 per cent for new customers and 5.79 per cent for existing borrowers.
The fixed rate products can be used to buy a shared ownership property with a minimum deposit of 15 per cent of the share purchased.
Other shared ownership products with a five per cent deposit remain available and the deals are applications and booking fee-free.
Karen Smith, sales manager at Newbury Building Society: “The society recognises that customers are looking to put higher deposits down on shared ownership mortgages in order to lower monthly repayment costs and ease the strain caused by the current cost of living environment.
“We’re constantly considering ways to reward our existing borrowers, as well as adapt our product offering in response to the needs of new borrowers.”
She added: “Shared ownership continues to be a popular choice for those wanting to secure their first home in a market where rental demand is currently outstripping supply. We hope these two new 85 per cent LTS products will help new and existing borrowers secure their first or next property.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
