For customers using the Help to Buy and other shared equity schemes, NatWest is widening the range of mortgage deals available to include 60%, 70% and 75% LTV products, with a choice of product fee or no product fee. It is also broadening its proposition to allow customers to now contribute a personal deposit of more than 20% of the purchase price. It’s also reducing rates on its 95% LTV Help to Buy: mortgage guarantee scheme deals.
Within NatWest’s residential purchase range, rates have been reduced between 7-41bps on its 2 year fixed rate deals and between 7-16bps on its 5 year fixed rate deals for 60-85% LTV products. Rates on its 2 year residential purchase and remortgage tracker and buy-to-let tracker deals have increased by 20bps.
Mark Bullard, 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 (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.”
