Newbury Building Society has cut rates on its shared ownership and Help to Buy deals by up to 60 basis points.

The lender has made a number of reductions to its affordable housing product range, which is available to buyers in England and Wales.

In the shared ownership range, its two-year fixed at 95 per cent loan-to-value has come down from 3.39 per cent to 2.99 per cent.

Its three-year fixed at 95 per cent has also come down by the same amount to 2.99 per cent.

Its five-year fixed at the same LTV is now 3.39 per cent, down from 3.79 per cent.

Alternatively it offers a three-year discount at the same LTV which starts at 2.99 per cent, down from 2.99 per cent.

In its Help to Buy range its three-year fixed at 75 per cent LTV has come down from 1.99 per cent to 1.89 per cent.

This price cut follows Newbury’s recent decision to open the 95 per cent LTV three-year and five-year fixed rate and the 95 per cent LTV three-year variable shared ownership products to existing borrowers and those looking to remortgage to the lender.  

Newbury lending manager Roger Knight says: “We are constantly looking to improve our product offering for those looking to purchase using an affordable housing scheme. 

“We take pride in talking and listening to both customers and brokers to help ensure we respond to market demands appropriately. We believe these reductions will further help those with a smaller deposit step onto the property ladder and fulfil their homeownership aspirations.”