Two and five year products available to support Shared Ownership
Did you know that we recently launched a range of standalone two and five year mortgage products to support the Shared Ownership market?
With the Help to Buy scheme now closed, and the Government committed to delivering 300,000 new homes a year by the mid-2020s, we believe the demand for Shared Ownership will continue to grow. The scheme enables those on joint incomes up to £80,000 (£90,000 in London) to get onto or up the property ladder. The scheme allows them to purchase an initial share of a property and pay rent on the remaining share. Buyers only need a small deposit and can increase their share in the property over time.
Key highlights
- Available to borrowers with a maximum household income up to £80,000 (£90,000 in London)
- The minimum initial share of the property to be purchased is 25% and the maximum is 75%
- The borrower must contribute at least 5% deposit from own funds or via family gift
- Product rates up to 95% LTV (of borrower's share)
Further information on our Shared Ownership proposition can be found on our website.
Contact us
Talk to your dedicated Business Development Manager or contact your Intermediary Support Team at Intermediary.lending@newcastle.co.uk or 0345 602 2338.
12 days of Christmas competition
We wanted to kick off this year's festivities by looking back at another exciting year together. Look out for our Christmas social campaign on our LinkedIn channel. For 12 days, we'll be sharing successes we have had together and some important information for the holiday period.
As it's the season of goodwill, we're GIVING AWAY a £50 Fortnum and Mason hamper voucher to one lucky winner in addition to donating £50 to the Newcastle Building Society Community Fund! All you have to do is like, share or comment on our 12 days of Christmas posts before midnight on Monday 19th December 2022 and you will be entered into a draw to win! (Terms & Conditions apply)