The lender is reintroducing its full range of Help to Buy Equity products, with a two-year fixed rate at 2.19 per cent, and a five-year fix at 2.49 per cent. The maximum loan to value is 75 per cent.
Both products are offering free standard valuation and £500 cash back, and allow overpayments of 10 per cent a year.
Additionally, borrowers can remortgage their existing Help to Buy mortgage to benefit from the new rates while maintaining their equity loan.
“The new build market is still under-served with product options for first-time buyers. So we’re pleased to be re-entering the Help to Buy market and supplying borrowers looking to get on the ladder with only a five per cent deposit,” said John Truswell, head of intermediary mortgages at Newcastle Building Society (pictured).
The new build sector has been in talks with lenders in recent months about supporting a return to 95 per cent LTV lending.
