Suffolk Building Society returns to shared ownership mortgage market

Suffolk Building Society has re-entered the shared ownership market with the launch of a 2-year fixed rate product.

The shared ownership mortgage is available at 6.09% until 31st January 2026.

The deal is available for purchase and remortgage, with no completion fee.

There is a minimum loan size of £75,000, a maximum loan size of £500,000, and an application fee of £199.

After the initial period, the product has a revert-to rate of Suffolk Building Society’s standard variable rate (SVR) minus 1.74% (with a 3% floor) until 30th April 2029.

Andrew Sadler, key account manager at Suffolk Building Society, said: “Shared ownership enables more people to get on the housing ladder, by giving an alternative to the traditional mortgage route. 

“As shared ownership attracts borrowers who may be unable to save up a larger deposit, we are offering this product on a 90% loan-to-value basis.

“We are a Society with a strong social purpose dating back 174 years.

“Being able to support people to have a place they can call home is at the core of both our lending policy and our charitable aims.”

The society communicated this product information to intermediaries via email, and the deal can be found through the society’s Mortgage Product Finder tool, while its helpdesk team is available to assist with queries.