The society has also cut rates on its range of standard residential 60% and 75% LTV mortgage products, as well as removing its booking fee from shared ownership fixed-rate products.

Notable reductions within the shared ownership range include the 95% LTV 3-year fix, cut from 4.29% to 3.99%.

The 95% LTV 5-year fix has also been reduced, from 4.59% to 4.29%.

Additionally, the GoGreen further advance 60% LTV 5-year discount has been cut from 1.69% to 1.49%, and the 75% LTV 5-year discount has been decreased from 1.79% to 1.49%.

The society’s 75% LTV 3-year fix has been reduced, from 2.69% to 2.24%, and the 75% LTV 5-year fix from 2.89% to 2.49%.

Roger Knight, lending manager at Newbury Building Society, said: “We want to offer products which give prospective and existing borrowers the greatest chance to fulfil their homeownership ambitions.

“We believe the decision to reduce a number of our products does just that as we continue to listen to brokers and their clients to ensure we provide the financial products they need.”