"We’re delighted to further help those looking for a Shared Ownership mortgage by reducing our three-year discount mortgage product."
The reduction now puts the 95% LTV three-year variable mortgage at a lower rate than the Society’s three-year fixed rate product which currently stands at 3.99%.
The discounted rate has no early repayment charges and can be used to purchase new build houses and flats.
Roger Knight, lending manager at Newbury Building Society, said: “We’re delighted to further help those looking for a Shared Ownership mortgage by reducing our three-year discount mortgage product.
"No ERC means the borrower is able to clear their mortgage early with no penalty charges or exit the mortgage when they wish. This type of mortgage is perfect for those who value their flexibility or if their circumstances unexpectedly change.”
