The Cambridge refresh their Shared Ownership mortgage range for the New Year
8 January 2020 • Products & Services • Corporate
To kick off 2020 The Cambridge have relaunched their Shared Ownership mortgage range reducing rates on their 95% LTV products and offering the range to whole of market.
Launching on the 8th January, The Cambridge have reduced the rates of their Shared Ownership 2 year fixed rate product which is now offered at 3.44% following a reduction of 0.15%, and their Shared Ownership 2 year discounted rate product now offered at 3.24% following a reduction of 0.25%.
Further amendments include lowering their minimum loan size for purchase and remortgage to £20k, supporting applications outside its traditional heartland where the share amount could be less. In addition, the £199 application fee for Shared Ownership mortgages is now no longer required upfront and can be added to the loan on completion to reduce up-front costs.
Alongside this refresh The Cambridge now offer their Shared Ownership range to the whole of market nationally, after previously limiting distribution to selected partners and clubs.
Dan Barker, Product Manager at The Cambridge comments on the changes, “As the Shared Ownership market grows with first, second and even third time buyers looking to Shared Ownership properties as an affordable way to own a home, it is important for us to respond with a variety of affordable and accessible lending options. With us now extending our Shared Ownership offering to more intermediaries across England and Wales, my team is looking forward to helping people have a home in Cambridgeshire and beyond.”