Furness Building Society has announced the launch of a range of shared ownership mortgage products for buyers in England 

From tomorrow (18th October 2024) the Leicestershire-based lender will offer a new shared ownership product to boost home ownership in its heartland.

The society will look at each case on an individual basis by the in-house underwriting team, meaning no credit scoring.

Residential fixed rates now start from 3.94%.

Rates have reduced across the Society's product ranges by up to 0.65%.

The Society has reduced rates across its range by up to 0.30%.

The lender says the rate cuts target 'just off the high street' customers.

Rates have reduced across the Society's residential, shared ownership and buy-to-let ranges.

Steve Griffiths, chief commercial officer at The Mortgage Lender, explores what market factors could lead to an increase in shared ownership demand and how intermediaries can educate...

Despite this, 68% of first-time buyers were unsure what shared ownership means.