Newbury BS announce launch of two new Shared Ownership products

Warren Lewis
13th February 2019
FTB 77

Newbury Building Society has announced that it has launched two new Shared Ownership products – one fixed and one variable, aimed at helping first-time-buyers take their first step onto the property ladder.

According to the lender, the two new products are a Shared Ownership 3 year fixed at 3.19% - 85% LTV and a Shared Ownership 3 year discount at 2.44% - 85% LTV.

The product is designed for those who have at least a 15% deposit of the share they are buying and can be used to purchase new build properties; both houses and flats.

The 3 year fixed is also application fee free.

Roger Knight, Lending Manager at Newbury Building Society said: “We are delighted that our Shared Ownership mortgage book now boasts of 9 strong purchase-only mortgage products, available to those looking to purchase using the government’s part-rent-part-buy scheme. Today’s launch is aimed specifically at those who have a minimum of 15% of a deposit available with the choice of fixing for a number of years or borrowing on the variable.”

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