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Housing group and building society's joint mortgage product creates 100th homeowner

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Housing group and building society's joint mortgage product creates 100th homeowner

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Published by Max Salsbury for 24dash.com in Housing and also in Communities, Finance

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A special mortgage product set up by Sovereign Living and Newbury Building Society (NBS) has created its 100th homeowner.

The service was launched in May 2011 and is aimed at addressing the financial challenges faced by those who want to buy their own homes.

Sovereign Living - the trading name of Sovereign Housing Association - and NBS - a mutual building society - offer affordable mortgage products throughout the south and south west to enable the purchase of Sovereign Living homes. Newbury provide mortgage coverage of up to 75% on any one Sovereign scheme.

The landmark loan was introduced by Andover-based mortgage broker Simon Smith, who has helped numerous first time buyers purchase their property by introducing them to the scheme.

The 100th couple on the scheme are from Wallingford in South Oxfordshire.

NBS's chief executive, Roland Gardner, said: "This partnership continues to help people throughout our communities to fulfil their aspirations of owning their own home.

“The key to this partnership has been the strong relationship between the two parties and the practical systems we have put in place to support this arrangement.”

Roger Keeling, Sovereign's development director, said: “This unique partnership with Newbury Building Society demonstrates our shared values and strong commitment to local communities. It will support our common aim to help working households meet their aspirations of affordable home ownership with a choice of affordable mortgage options.”

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