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Newbury BS brings out 85 per cent LTV shared ownership deals

Anna Sagar
Written By:
Posted:
September 8, 2023
Updated:
September 8, 2023

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.”

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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.”