Newcastle Building Society will offer a two-year fixed rate priced at 4.75%. This comes with a £999 fee, 10% overpayments and early repayment charges of 2% in the first year then 1% in the following term.
The deals are available to those with a maximum household income of up to £80,000, which rises to £90,000 in London.
The maximum loan amount available is 95% loan to value (LTV) of the borrower’s share.
Newcastle Building Society added that the products can offer staircasing, allowing shared ownership buyers to grow their share to 100% of the value in minimum increments of 5%.
Michelle Ash, national account manager at Newcastle Building Society, said: “Shared ownership plays a vital role in addressing the affordability challenges many buyers face today.
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“Our shared ownership proposition is one way Newcastle Building Society is trying to make homeownership more accessible and more affordable, especially in today’s market.
“By lowering rates, we’re reaffirming our commitment to helping mortgage brokers support their clients with flexible, sustainable solutions that open the door to a better financial future.”
Newcastle Building Society introduced shared ownership deals in 2022, aiming to support first-time buyers and borrowers with limited affordability.
The deals are available to new homebuyers and those looking to remortgage with £200 cashback on selected deals.
Earlier this week, Newcastle for Intermediaries lowered its large loan pricing.
