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Newbury BS expands Help to Buy remortgage range

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  • 12/06/2019
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Newbury BS expands Help to Buy remortgage range
Two new Help to Buy remortgage deals have been launched by Newbury Building Society.

 

The mutual has developed a three-year fix at 85 per cent loan-to-value (LTV), which comes with a rate of 2.99 per cent, alongside a three-year discount at the same LTV with a rate of 2.44 per cent.

Both deals have fees of £850.

The lender said the two deals were suitable for Help to Buy borrowers who were looking to remortgage to a like-for-like deal, or those hoping to partially staircase and pay off part of the government loan.

Roger Knight, lending manager at Newbury, warned that there was a real lack of option for those remortgaging who have been on the Help to Buy scheme.

He added: “As a result, we listened and taking into account the need for flexibility, removed the pressure of having to remortgage away from the scheme in its entirety. We value feedback from customers and the market alike, and action where we can to ensure people can continue buying their own homes.”

 

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