Dudley BS defusing the ‘ticking timebomb’ of HTB, shared ownership and shared equity schemes
06 Aug 2019
Published in: Member News
New remortgage product
Announcing the launch of a new remortgage product for people who have taken out mortgages to get on the housing ladder using ‘Help to Buy’ schemes or shared ownership, Dudley Building Society is offering borrowers the opportunity to take back control. By remortgaging to a product which helps them consolidate their mortgage from a shared ownership or government subsidy, in the case of an HTB, into a single monthly payment, where they can own 100% of their property with one mortgage.
The product is available up to 90% LTV and carries a 3.79% discount from the Society’s variable rate for the term of the mortgage, which can be up to 40 years.
Our new product offers a viable remortgage alternative for those looking to find a way forward. It can also be used to buy back the freehold in the case of properties sold as leaseholds.”
Sam continued, “Help to Buy and Shared Ownership provided people with a means to get on the housing ladder which is commendable. However, in many cases the consequences further down the line were not considered. Our goal is to provide people with a real opportunity to reorganise their finances and I am delighted we are able to offer this new product.”
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