Dudley Building Society has launched a new remortgage product for customers who want to consolidate their mortgage and rental payments from a shared ownership or government subsidy into a single monthly payment.
It is known as the post HTB/shared ownership discount for term scheme and is available up to 90% LTV, with an initial 3.79% discounted rate.
Dudley’s 1.2% discount from its variable rate is carried for the term of the mortgage, which can be up to 40 years.
Sam Ward, head of commercial at Dudley Building Society (pictured above), said: “Our new product offers a viable remortgage alternative, particularly useful for those approaching the end of the five-year, rent-free period on Help to Buy loans and are looking to find a way forward.
“It can also be used to buy back the freehold in the case of properties sold as leaseholds.”
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