Dudley Building Society has partnered with 3mc to market an exclusive shared ownership product.
Under the agreement, the mortgage packager and distributor will market an exclusive heylo shared ownership product designed in partnership with the lender.
Heylo housing is a registered provider with the Homes and Communities Agency, working with national and regional house builders, to deliver affordable housing across the country.
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The scheme is supported by Homes England and has granted funding to deliver 180,000 shared ownership homes.
Heylo’s ‘Home Reach’ scheme has delivered a high volume of shared ownership transactions between 2016 and 2020, working with over 80 housebuilders over 200 local authority areas.
Sam Ward, commercial director at Dudley Building Society, said, “We are delighted to be working with 3mc with whom we have built a proactive relationship.
“They fully understand our philosophy that, as a mutual lender, part of our mission is to provide funding where people are not well served. 3mc shares our sense of commitment to providing that support.
“A shared ownership scheme like this helps more people on to the housing ladder.”
Doug Hall, director of 3mc, added: “Building societies are not just another branch of the lending industry.
“Apart from fulfilling a fundamental role in their communities as important local hubs, societies like Dudley are demonstrating their commitment to underserved segments of society.
“There is and has been for some time a deep need for more initiatives to help people realise their dream of home ownership.
“This scheme, which we are marketing, is a demonstration of our joint commitment to meet that need.”