Principality Building Society has exceeded £30m in shared ownership mortgage lending, helping nearly 500 first-time buyers.
The mutual said this was achieved after it relaunched the proposition in March this year.
Principality Building Society has been highlighting its mortgages for first-time buyers generally, as the boost in shared ownership lending followed the release of a campaign, Making More Possible, which promoted its offering for new-build homes.
Earlier this year, it came out with an increased income multiple of five-and-a-half times income for first-time buyers.
In 2023, the mutual helped more than 8,000 first-time buyers purchase a home.
Helen Lewis (pictured), national intermediary manager at Principality Building Society, said: “This latest milestone highlights that the launch of our shared ownership mortgages has proven a popular option for brokers and their first-time buyer clients.
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“Shared ownership mortgages, in addition to our no limits on builders’ incentives and changes to our gifted deposits and gifted equity criteria, are helping more buyers reach the goal of homeownership.”
In its half-year results, Principality Building Society reported a mortgage book of £9.9bn, a £600m increase on the year before.
