Newbury Building Society has announced it has reduced the rates of its 95% LTV fixed mortgage products to further assist customers taking their first step onto the property ladder.
Newbury Building Society’s 2-year and 3-year shared ownership plans are fixed at 3.39% – both of which have been reduced from 3.79% – while the shared ownership 5-year fixed plan is down from 4.69%, to 3.79%.
The fixed rate products, which can be used to acquire new build houses and flats with a deposit of at least 5% of the purchased share, also remain application fee free.
Newbury Building Society lending manager, Roger Knight, said: “As the Shared Ownership mortgage market grows, we are constantly looking for ways to enhance and develop our mortgage products in response to the needs of borrowers.
“We believe the reductions to our 95% fixed rate mortgage products will help those who have smaller deposits fulfil their homeownership ambitions.”
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