Newcastle for Intermediaries has broadened its shared ownership mortgage offering by opening access to a panel of registered for-profit providers.
The intermediary arm of Newcastle Building Society initially launched its shared ownership proposition in 2022, designed to help first-time buyers and borrowers with constrained affordability.
The lender offers both two and five-year fixed rate options, with loans of up to 95% loan-to-value on the borrower’s share. The proposition is open to borrowers with a household income of up to £80,000 – or £90,000 within Greater London – and includes a £200 cashback incentive on selected products.
The expansion comes as demand for shared ownership continues to grow in the wake of the closure of the Help to Buy scheme.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said the shift reflects changing market dynamics and government housing ambitions.
“Since Help to Buy ended, we’ve seen significant growth in demand for Shared Ownership mortgages, particularly within the For-Profit market,” he said. “With the government’s ambitions home building target to deliver 1.5 million more homes in the next five years, this trend is set to continue.”
He added that opening the lender’s offering to registered for-profit providers would broaden choice for brokers and their clients, while reinforcing the society’s commitment to flexible, affordable homeownership.
“By working together with both Not-For-Profit and For-Profit providers we can deliver even more flexible, affordable pathways onto the property ladder,” he said.
“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.”
