The Cambridge Building Society has reduced interest rates and removed the fees across its fixed rate shared ownership mortgage range.
Application fees and completion fees have been removed, which will save borrowers £700.
And it has also reduced the rates on its 2-year and 5-year fixed rate 90% and 95% loan-to-value (LTV) mortgages.
Its whole of market 2-year fixed rate shared ownership mortgage product at 90% LTV falls from 3.49% to 3.09% and 5-year from 3.99% to 3.29%.
There are additional 2-year and 5-year fixed rates at 95% LTV available exclusively through Mortgage Advice Bureau (MAB), which are reduced from 3.99% to 3.59% and 4.24% to 3.89% respectively.
The Cambridge also offers lenders free valuations on all its shared ownership products.
“We’re delighted to be able to offer reduced rates to our mortgage customers, as well as waiving fees for them,” said The Cambridge’s product manager, Dan Barker (pictured).
“As experts in homes and housing, being a responsible lender and a support to local communities, we know how vital it is to offer our members competitively-priced products to enable them to have access to appropriate homes and housing.”
These products are available for purchase, remortgage, further advance and product switch with no application or completion fees and for loans between £20,000 and £400,000.
