The West Brom re-enters shared ownership market

Available up to 95% of borrower share, the products are designed for first-time buyers and existing shared owners with smaller deposits.

A two-year fixed rate is available at 3.59% and a five-year fix starts at 3.69% with £500 cashback.

Richard Scott, the West Brom’s head of intermediaries, said: “We’re pleased to be re-entering the shared ownership market with a competitive range of products.

"Supporting first-time buyers and those looking for affordable routes into homeownership is a core part of our purpose, and our new deals will help many more achieve their homeownership goals.”

Panel speakers at a recent Just Mortgages event agreed that more lenders will offer shared ownership mortgages in the near future and brokers should be prepared for a rise in enquiries.