Shared Ownership launch
Posted on August 23, 2018
Loughborough Building Society launches Shared Ownership Mortgages
The Loughborough has launched a brand new range of Shared Ownership mortgages, which provide an affordable way for borrowers to get onto the property ladder.
Up to 95% of the share can be purchased on houses in England and Wales, the share being 25%-75% of the property value.
Ashley Pearson, Business Development Manager said “I’m really passionate about the Shared Ownership proposition. I purchased my first home in 2003 using the scheme through a Local Housing Association. It allowed me the chance at a young age to step on to the property ladder. I feel that it is important as a mutual that we offered this type of mortgage to allow more people to become homeowners”.
He added “we realised through research and discussions with Housing Associations and Intermediaries that there is an increasing demand for this type of mortgage”.
With both discounted and fixed rates and no upfront fees, The Loughborough is offering a range of products, which together with their individual underwriting approach shows their commitment to this market.