The Help to Buy scheme is open to all intermediaries and NatWest has two shared equity mortgage deals available for applicants – a two-year fixed rate at 3.15% and a five-year fixed rate at 3.59%, both with no product fees.
The NewBuy scheme is available to those intermediaries that are on the selected panels of participating builders and developers.
NatWest is launching two specific mortgages to support the scheme – a two-year fixed rate at 4.49% and a five-year fixed rate at 4.79%, both with no product fees.
Maximum lending for Help to Buy is £600,000 with a £500,000 cap for NewBuy alongside a minimum of £25,000 for both schemes.
The lender is writing to all intermediaries who on the participating builders’ and developers’ selected panels to inform them that they can now submit applications using the NewBuy scheme, outlining the processes they need to follow.
Mark Bullard, head of sales, NatWest Intermediary Solutions (pictured) said: “We have been an active supporter of previous shared equity schemes and have had products specifically designed for this sector. We have continued to support the first-time buyer market with the 90% LTV deals available in our range and criteria such as accepting gifted deposits and allowing multiple applicants.
“Being able to add the NewBuy scheme into our offering is pleasing as it means we are able to have a presence in the intermediary sector for the vast majority of first-time buyer scenarios.”
NatWest becomes the fifth brand to enter the Help to Buy market, following Woolwich, mortgages from Barclays, Lloyds, Halifax and Teachers Building Society.
