"We want to offer products which give prospective and existing borrowers the greatest chance to fulfil their homeownership ambitions"
The mortgage products – including both variable and fixed rates – have been reduced up to 0.50%.
Fixed rates have seen reductions of up to 0.45%, with a three year fix at 75% LTV reducing from 2.69% to 2.24% and a five-year fix reducing from 2.89% to 2.49%. An existing borrower three-year fixed rate at 75% LTV has been cut from 2.49% to 2.14%.
Variable rate reductions include a GoGreen further advance five-year discount at 1.49% available at 60% and 75% LTV, down from 1.69% and 1.79% respectively.
An existing borrower five-year discount product is also available at 1.59% at 60% LTV and 75% LTV, down from 1.69% and 1.89% respectively.
Three and five-year discount rates have been reduced to 1.69% at 75% LTV, down from 2.09%, and a made to measure product has been cut to 1.99% at 75% LTV, down from 2.49%.
Shared ownership rates have seen reductions of 30bps and now start at 3.99% fixed for three years and 4.29% fixed for five years.
The Society has also removed its booking fee from shared ownership fixed rate products, which can be used to purchase new build houses and flats with a deposit of 5% of the share purchased.
Roger Knight, lending manager at Newbury Building Society, said: “We want to offer products which give prospective and existing borrowers the greatest chance to fulfil their homeownership ambitions. We believe the decision to reduce a number of our products does just that as we continue to listen to brokers and their clients to ensure we provide the financial products they need.”
