Buckinghamshire Building Society has re-entered the shared ownership market place with a new product and expended criteria.
The three-year discount rate product is available without a product fee for both purchase and remortgage cases from today for properties across England and Wales.
Features include:
- Available for share purchase of 25%-75%
- Maximum loan to Share (LTS) of 95%
- Loans from £50,000-£500,000
- Maximum six storeys for flats
- Lease must allow for staircasing to 100%
- Our standard credit criteria applies
- Other fees & T&Cs apply
Claire Askham, head of mortgage sales at the Buckinghamshire Building Society, said: “We’re always looking for ways to improve and expand our mortgage proposition.
“With the end of the Help to Buy scheme fast approaching, we feel it’s important to find alternative ways to support the affordable housing market and shared ownership is a great solution for many first time buyers to take that leap and get a foothold on the property ladder.
“We all know that one of the major barriers to home ownership for many people is saving for that initial deposit. Here at Buckinghamshire Building Society, we allow borrowers to purchase a minimum property share of just 25% and we lend up to 95% of that share cost, making home ownership a realistic option for a significant amount of potential buyers compared to more tradition methods of property purchase.”
In addition to the relaunch of shared ownership, Buckinghamshire Building Society has also refreshed rates on a variety of their other mortgage products.
