Suffolk Building Society has launched a shared ownership 95% loan-to-value (LTV) 5-year fixed mortgage product, as well as repricing a number of its residential and shared ownership products.
From today (27th June), the society has reduced its 95% LTV residential 5-year fixed (C&I) by 0.10% to 5.39%, and its 95% LTV shared ownership 2-year fixed by 0.15% to 5.60%.
As part of these reprices, the society also lowered the rate on its 80% LTV holiday let 5-year fixed mortgage product.
In addition, it has also reduced its 80% LTV expat buy to let 5-year product by 0.29%.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “In the current market, affordability can be a real barrier to many first time buyers.
“Having a 5-year fixed shared ownership option available helps to provide not just further peace of mind on their mortgage payments, but also helps with affordability.
“We’re here to support first time buyers as they embark on the journey to owning their own home.”
She added: “By also significantly reducing our expat buy to let 5-year product, we’re further supporting British expats living and working abroad in this niche area, whether they’re looking to invest in a property back home for rental income, or already have a property they let out.
“Whatever a customer’s borrowing requirements may be, our team of manual underwriters assesses each case individually.
“Further supported by our helpdesk and business development managers (BDMs), the society has extensive expertise in supporting brokers through the expat, first time buyer, and holiday let borrowing process.”
