"We’ve thought long and hard about the right product to re-enter into this market"
Darlington Building Society has re-entered the shared ownership market.
Its new shared ownership mortgage is a five-year fixed rate at 3.99% with no product fees and reduced valuation fees.
The Society will lend up to 95% Loan to Share and the product will be available exclusively through its intermediary channel.
Chief customer officer, Darren Ditchburn, said: “We’re delighted and hugely excited to be back in the shared ownership market, and this new product reaffirms our commitment to helping more people get onto the property ladder.
“We’ve thought long and hard about the right product to re-enter into this market with and we believe that a five-year fixed rate will provide new borrowers with security that their payments will be fixed for a number of years.
“The 95% Loan to Share reduces the requirement for a large deposit from the borrower, making homeownership more accessible for people who want to get on to the property ladder.”