Newcastle for Intermediaries has reduced rates across its shared ownership range by up to 0.55%.
The lender first introduced its shared ownership proposition to the market in 2022, offering a range of products that support first-time buyers and other borrowers with limited affordability. The range is available to new home buyers and those looking to remortgage and now offers £200 cashback on selected products.
As part of the updated range, a 4.75% two-year fixed rate is now available and comes with a £999 product fee.
The products are available to those with a maximum household income of up to £80,000 (£90,000 in London), with a maximum loan amount at 95% LTV of the borrower’s share. The range also offers staircasing, providing shared ownership buyers the opportunity to increase their share in the property up 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. Our shared ownership proposition is one way Newcastle Building Society is trying to make home ownership 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.”
