The 2-year discounted mortgage is initially available in the North West region at 90% loan-t-value (LTV) of proposed share.

Julie Goodwin, head of business development at Chorley Building Society, said: “As a mutual lender, it is important to us that we serve our community and help those who need additional help to get on the housing ladder.

“We already offer Help to Buy mortgages and we are pleased to be able to offer this shared ownership mortgage that is backed by the g overnment’s help scheme.”

The launch of the shared ownership product follows the Society’s recent re-entry into the 90% LTV market.