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NatWest expands Help to Buy and shared equity range

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  • 25/07/2016
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NatWest expands Help to Buy and shared equity range
Natwest has expanded its Help to Buy and shared equity schemes by adding deals in loan-to-value (LTV) brackets of 60% and 75%, with various fee options.

Highlights from the range include a two-year fixed rate at 70% LTV priced at 1.84% with a £995 product fee and a 75% LTV two-year fix with a rate of 1.87%, also and a fee of £995.

As part of the changes, the bank is allowing customers to contribute a personal deposit of more than 20% of the purchase price while reducing rates on its 95% LTV Help to Buy: mortgage guarantee deals.

Mark Bullard (pictured), head of sales, NatWest Intermediary Solutions, said: “The Help to Buy schemes have proved to have been a valuable gateway for first-time buyers and movers to purchase a new-build property.

“These new deals enable customers to put in a deposit of more than 20% alongside the scheme’s maximum equity loan of 20% of the purchase price, or a maximum 40% in London, giving them and their brokers much more flexibility. We have actively supported the government schemes for many years now and are fully committed to helping first-time buyers.”

Within NatWest’s residential purchase range, rates have been reduced between 7 to 41 basis points on its two-year fixed rate deals and between 7 to 16 basis points on its five-year fixed rate deals for 60 to 85% LTV products.

Rates on its two-year residential purchase and remortgage tracker and buy-to-let tracker deals have increased by 20bps.

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