Newcastle for Intermediaries has expanded its Shared Ownership proposition to include a panel of registered For-Profit Shared Ownership providers, reflecting growing demand in this segment of the market.
The lender first launched its Shared Ownership products in 2022, offering support for first-time buyers and others with limited affordability. The proposition includes 2-year and 5-year fixed-rate options, a maximum household income cap of £80,000 (£90,000 in London), and loans of up to 95% LTV on the borrower’s share. A £200 cashback incentive is now also available on selected products.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “Since Help to Buy ended, we’ve seen significant growth in demand for Shared Ownership mortgages, particularly within the For-Profit market. With the Government’s ambitions home building target to deliver 1.5million more homes in the next five years, this trend is set to continue.
“That’s why we’re delighted to extend our Shared Ownership proposition to For-Profit registered providers – a move that broadens choice for our broker partners and their clients. By working together with both Not-For-Profit and For-Profit providers we can deliver even more flexible, affordable pathways onto the property ladder.
“The changes underline our ongoing commitment to innovation and responsible lending, and we look forward to expanding our list of preferred registered providers as the popularity of Shared Ownership continues to grow.”
Newcastle said its panel of For-Profit providers is expected to grow further in the coming months. More information on joining the panel is available via the Newcastle for Intermediaries website.
