Progressive Building Society and Co-Ownership Introduce No Deposit Mortgages
Progressive Building Society has joined forces with Co-Ownership to introduce a range of innovative mortgage products, including a no deposit option. This collaboration aims to provide customers with the opportunity to borrow 100% of the mortgaged share of the property they wish to purchase, with the remaining share being rented from Co-Ownership. The initiative comes as a response to the consistent rise in house prices in Northern Ireland over recent years, posing challenges for first-time buyers looking to step onto the property ladder.
Progressive Building Society and Co-Ownership partnership
The head of lending and savings at Progressive Building Society, Jane Millar, expressed the institution’s commitment to supporting local individuals in their homeownership journey. Millar stated, “Progressive Building Society is proud to collaborate with Co-Ownership, facilitating the dream of home ownership for our community. Our longstanding partnership with Co-Ownership has culminated in the launch of our no deposit mortgage products. These offerings will open up new avenues for local residents to own property without the burden of a deposit.”.
Glynis Hobson, the director of customer services at Co-Ownership, also shared her enthusiasm for the partnership with Progressive. Hobson emphasized the importance of mortgage providers offering competitive products to empower individuals seeking assistance from Co-Ownership to achieve their homeownership goals. She added, “We are thrilled that Progressive is introducing these innovative products to the market, providing local customers with increased options when considering Co-Ownership’s support in their journey to becoming homeowners.”
The newly introduced mortgage products are accessible directly through Progressive, offering online mortgage appointments with dedicated advisors available on their website or through authorized mortgage brokers.
Online Accessibility and Support
Progressive Building Society and Co-Ownership have ensured that the new mortgage products are easily accessible to interested individuals. By providing online mortgage appointments with dedicated advisors, the partnership aims to streamline the process of acquiring a mortgage without the need for a deposit. This online accessibility reflects the commitment of both institutions to modernize and simplify the home buying experience for customers.
Online mortgage support
Future Collaborative Efforts
Looking ahead, Progressive Building Society and Co-Ownership are dedicated to continuing their collaboration to support local customers in their journey towards homeownership. By offering a diverse range of mortgage products and services, the partnership seeks to address the evolving needs of the market and provide tailored solutions to individuals aspiring to own property in Northern Ireland.
Conclusion
The partnership between Progressive Building Society and Co-Ownership marks a significant milestone in the mortgage industry, particularly in Northern Ireland. With a focus on inclusivity and accessibility, the introduction of no deposit mortgage options demonstrates a proactive approach to addressing the challenges faced by first-time buyers. Through this collaboration, local residents are presented with enhanced opportunities to fulfill their homeownership aspirations.
By Alison Wilson
