Hanley Economic Building Society has introduced a no-fee, two-year shared ownership fixed rate product at 95% LTV.
The product — which has a headline rate of 2.99% — will allow borrowers access to the shared ownership scheme for either house purchase or on a remortgage basis with only a 5% deposit.
It has no application or product fees, with the minimum loan amount standing at £30,000 and the maximum at £500,000.
An early repayment charge will apply if the mortgage is repaid in full before 31st March 2021.
Hanley has also introduced a 2.85% two-year fixed rate mortgage at 95% LTV, which is also available for house purchase and remortgage purposes.
This product also has a minimum loan size of £30,000 and a maximum of £500,000.
In addition, there is a £250 application fee and it comes with one free standard valuation and free legals for remortgage borrowers.
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