The expansion includes two-year fixed rates at 95 per cent LTV, which is priced at 5.99 per cent and comes with early repayment charges (ERC) of two per cent in the first year and one per cent in the second year.
There is also a five-year fixed rate which is priced at 5.65 per cent and has ERCs starting at five per cent which fall by one per cent per year of the term.
Both are available for purchase and remortgage and is subject to a £999 fee and overpayment facility of 10 per cent per year.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society said: “The new products in our shared ownership range are designed to support brokers and their clients with larger deposits, complementing our existing 95 per cent LTV products to provide greater choice and flexibility for borrowers.”
Hodge cuts rates
Hodge is lowering rates across its range of 50 plus and retirement interest-only mortgage deals, along with professional mortgage rates.
Rates in its 50 plus mortgage range will fall by up to 0.2 per cent and by 0.15 per cent for RIOs.
Professional mortgage rates will fall by around 0.2 per cent.
The changes will come into force by 9am on 22 November.
Emma Graham, business development director at Hodge, said: “These rate reductions are the latest in just a series of improvements we’ve made at Hodge in recent months to support borrowers with affordability and other issues affecting the market right now.
“As the markets have continued to settle, we have been able to continue implementing a number of changes to our products in response, which put us in a position to remain flexible to support the needs of our intermediary partners, and the customers they work with.”
She added: “This latest reduction in rates comes hot on the heels of a previous reduction in rates across our 50 plus mortgages in mid-October, and so we’re really pleased to be able to improve upon this offering just a month later.
“We have worked hard in the past few months to help ease the pressure imposed on our brokers and their customers by the current market and difficulties around affordability, which we know is restrictive for many at the moment. This has seen us increase LTI and reduce stress rates across our range.
“These latest rate reductions are yet another reflection of the continued work we are doing to support our intermediary partners in turn to carry on helping their clients in those moments that matter.”
