Tipton & Coseley Building Society has reduced rates across its shared ownership mortgage range by 15 base points.

The rates reduction on its residential purchase and remortgage shared ownership take effect from Wednesday (13 December).

The new rates for new and existing customers include residential purchase and residential remortgage.

The residential purchase, at maximum 95% LTV with a £999 arrangement fee, is 5.64% fixed until 31 January 2029.

While the residential remortgage, at 95% LTV with a £999 arrangement fee, is 5.74% fixed until 31 January 2027.

It also include up to £350 valuation fee contribution and £250 cashback towards legal fees.

Tipton & Coseley Building Society marketing and product manager Becky Wheeler said: “The Tipton has once again responded by supporting borrowers with these new competitive rates for our shared ownership products. These new rates will help brokers and their clients who are seeking to make their first step onto the property ladder.”