Mortgages  

Lender extends shared ownership locations

Lender extends shared ownership locations

Mansfield Building Society has extended its geographical coverage and broker distribution for shared ownership house purchase-only mortgages.

Key features:

The house purchase options include a two-year fixed rate mortgage and two-year discounted rate mortgage. Both are available at up to 95 per cent of the borrower’s share and 75 per cent property value.

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These mortgages are now acessible to all brokers on property located throughout England and Wales, but exclude those located within the M25.

A two-year fixed rate product and a two-year discounted rate product for house purchase, remortgage and staircasing will be available through specialist shared ownership brokers.

It has the same loan-to-value limits and geographical property coverage.

Adviser view

David Wilson, managing director of Newcastle-based NE Money, said: “I wouldn’t say shared ownership is hugely popular at the moment.

“Help-to-buy is proving more popular, but I am in the North East where property prices are lower compared with the South, so it might be more attractive there, where you just have the requirement of the higher deposit.”