The West Brom Building Society has reduced the rates for two years of shared ownership and new build mortgage products.
As part of the change, society lowered 95% borrower stock products, dropping to 5.24% without charge. 
The remaining shared ownership range rates have also been reduced, with the end date extended from June to September.
For those buying new build homes, West Brom will reduce its two-year rate by up to 47 basis points, starting at 4.77% of customers with a 10% deposit.
With 95% loans and value (LTV), the fees were reduced to 5.54%. This product does not include a fee and comes with a cashback of £500.
Additionally, the new 90% LTV option has been introduced at 5.28%, with a price of £999.
“We've seen a lot of effort into making it easier to understand,” said Aran Mann, product manager for West Brom Building Society.
“That's why we coordinated the scope of shared ownership and new build transactions to provide our customers with more support and more ways to achieve homeownership.”
Meanwhile, Newcastle, for intermediaries, has reduced the share of shared ownership coverage by up to 0.55%.
This range is available to new home buyers and those considering re-malt gauges, offering £200 cashback on selected products.
As part of the updated range, a fixed interest rate of 4.75% is available until 31.08.2027 (6.7% APRC) and comes with a product charge of £999, 10% excess wage and a 2% early repayment charge of 2% up to 31.08.2026.
This product is available to people with maximum household incomes of up to £80,000 or £90,000 in London, with the maximum loan amount being 95% LTV of the borrower's stock.
This range also provides stairs and offers co-ownership buyers the opportunity to increase up to 100% of their value with a minimum increment of 5%.
Michelle Ash, Newcastle Building Society National Account Manager, commented:
“By lowering the rate, we reaffirm our commitment to helping mortgage brokers support our clients with flexible, sustainable solutions that open the door to a better economic future.”
