Newbury Building Society announce rate cuts to shared ownership products


Newbury Building Society has announced that it has made further changes to its shared ownership range by reducing the rates of its three and five-year fixed products.

According to the lender, the two new rates are a three-year fix at 3.79% (down from 3.99%),  95% LTV and a five-year fixed at 4.69% (down from 4.79%), 95% LTV

Both fixed rate products are designed for those who have at least a 5% deposit of the share they are buying and can be used to purchase new build properties; flats and houses, and are application fee free.

The reductions follow the launch of its new two-year fixed Shared Ownership mortgage product.

Roger Knight, lending manager at Newbury Building Society said, “Once again we have demonstrated our commitment in helping people looking to purchase in England and Wales buy their homes. By providing the right products at the right time, we hope to continue helping intermediaries make their client’s dream a reality.”