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We've improved our shared ownership lending criteria

Written by Ipswich Building Society

12 Mar 2019

Tags

Criteria update, First Time Buyers, Lending Criteria, Shared Ownership

1 min read

Today we’re improving our shared ownership product range but also have great news on affordability and criteria.

Your shared ownership clients will now benefit from:

  • An increased loan size across our product range, now at a maximum of £500,000 (previously £350,000)
  • Lending on flats up to 10 storeys (previously limited to 5)
  • Gifted deposits accepted up to 95% of the share where applicants can provide 12 months’ rental evidence, of up to 90% of the share if this is not available
  • A new affordability calculator for all cases where the property is less than ten years old, using reduced ONS household and communications expenditure

Take a look at our range of shared ownership mortgages here.

If you have a shared ownership client in mind and want to discuss how we may be able to help, please give us a call on 0330 123 1073.

This article was published under our previous name of Ipswich Building Society. We changed our name in 2021 – get in touch if you have any questions.

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