Newcastle Building Society has reduced rates by up to 0.55% across its Shared Ownership mortgage range.
The range is open to new buyers and people looking to remortgage, and now offers a £200 cashback on selected products.
As part of the changes, a 4.75% fixed rate until 31st August 2027 with a 6.7% annual percentage rate of charge (APRC) is now available, with a £999 product fee.
Borrowers can make up to 10% overpayments, with early repayment charges (ERCs) set at 2% until 31st August 2026 and 1% until 31st August 2027.
Products are available to households earning up to £80,000, (£90,000 in London), with loans at up to 95% loan-to-value (LTV) of the buyer’s share.
The Shared Ownership range allows staircasing, so customers can increase their share in the property in steps of at least 5% up to full ownership.
Michelle Ash (pictured), national account manager at Newcastle Building Society, said: “Shared Ownership plays a vital role in addressing the affordability challenges many buyers face today.
“Our Shared Ownership proposition is one way Newcastle Building Society is trying to make home ownership more accessible and more affordable, especially in today’s market.
“By lowering rates, we’re reaffirming our commitment to helping mortgage brokers support their clients with flexible, sustainable solutions that open the door to a better financial future.”
