The society has updated its lending criteria, increasing the LTV for its shared ownership products.
The Cambridge has updated its lending criteria for shared ownership remortgages.
The building society has introduced a 95% LTV remortgage option whichoffers a discounted variable rate product at 3.49% and a 2-year fixed rate product at 3.59%.
Dan Barker, product manager at The Cambridge, said: “As the shared ownership market grows with first, second and even third time buyers looking to shared ownership properties for an affordable way to own a home, it is important for us to respond with a variety of affordable lending options.
“We understand that when owning a shared ownership property, the overall goal is to own as much of your property as possible.
“With the option now available to remortgage to 95% LTV with The Cambridge, being able to staircase faster and own more of the property is now a reality.”
The Cambridge has also reduced rates by up to 0.50% across its standard 95% LTV mortgage product range.
This also applies to its ‘First Step’ 98% LTV mortgage which is designed specifically for first-time buyers with a small deposit.
