Newcastle for Intermediaries reduces Shared Ownership rates

The lender’s Shared Ownership range - offered on loans up to 90% LTV - now starts at 4.55% fixed rate until 31st October 2027 with a £999 product fee. All products are available for house purchase and remortgage and offer an overpayment facility of 10% each year.

For borrowers wishing to increase their share in the property, staircasing is permitted up to 100% of the value in increments of 5%.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society said: “We know how important Shared Ownership products are to brokers working with first-time buyers and those stretching every bit of their affordability, which is why we’ve reduced our rates starting from 4.55%."

“By reducing costs we’re making it easier for brokers to find the right solution for clients who want to put down roots while keeping their monthly outgoings under control. These rate reductions, coupled with the recent expansion to our panel of For-Profit partners, underline our commitment to giving brokers the tools they need to deliver great outcomes in today’s market.