The society’s whole of market 2-year fixed rate shared ownership mortgage product at 90% loan-to-value (LTV) has dropped from 3.49% to 3.09% and the 5-year fix from 3.99% to 3.29%.

The Cambridge also offers lenders free valuations on all its shared ownership products.

The products are available for purchase, remortgage, further advance and product switch for loans between £20,000 and £400,000.

Dan Barker, product manager at The Cambridge, said: “We’re delighted to be able to offer reduced rates to our mortgage customers as well as waiving fees for them.”

“As experts in homes and housing, being a responsible lender and a support to local communities, we know how vital it is to offer our members competitively-priced products to enable them to have access to appropriate homes and housing.”