Shared ownership mortgages brought back by Chorley BS

February 18, 2025 by Brendan O'Neill

Mortgage Advisors

Chorley Building Society has announced that it is bringing back its slate of shared ownership mortgages, with this decision having been made in the wake of feedback from mortgage advisors.

The advisors who spoke to the building society said that the slate was needed in the current market. They argued that there is a consumer demand for products that come with varying terms of repayment as well as without the standard product fees. As a result, Chorley BS has opted to reintroduce a slate featuring three different loans.

All of them will come with loan-to-value (LTV) of 95%. The first product is a fixed rate two-year loan that has been set at 5.49%. The second is a discount rate two-year loan that starts from 5.59%. The final loan within this shared ownership slate is a fixed five-year product that has been set at 5.29%.

Liz Pearson from Chorley BS said to Financial Reporter that the lender was delighted to be bringing back shared ownership loans. She then went on by adding:

“We’ve listened to feedback from our brokers, and they told us they needed a broader range of options to help find the right product for their client.”

The lender’s customer services director, Kim Roby, stated that enabling people to get onto the property ladder was at the heart of its mutual building society identity.

Mortgage advisors who have done the CeMAP course will always be pleased to see evidence that lenders in the UK are listening to them when it comes to product choice.