The Melton Building Society has entered the shared ownership market again after suspending activity in the sector to maintain service levels.

The lender’s new shared ownership product is a 95 per cent purchase price (75 per cent LTV) five-year fix at 3.99 per cent. New builds are accepted.

It has also cut the rate of its 90 per cent LTV standard residential five-year product from 3.59 per cent to 3.39 per cent.

The Melton head of intermediaries Dan Atkinson says: “The Melton has long supported first-time buyers with a range of shared ownership mortgages and innovative lending criteria to help them get on the housing ladder.

“Together with our competitively priced high LTV Standard Residential mortgage, we have a great offering for first time buyers.