Mortgages

Newbury BS expands Help to Buy remortgage range

Borrowers can remortgage like-for-like or partially staircase, borrowing more to pay off part of the government loan.

Rozi Jones
|
12th June 2019
Roger Knight Newbury
"We listened and have taken into account the need for flexibility; removing the pressure of having to remortgage away from the scheme in its entirety."

Newbury Building Society has launched two new Help to Buy remortgage products.

The products include a three-year fixed rate at 2.99% and a three-year discount at 2.44%, both available up to 85% LTV.

The range allows borrowers to remortgage like-for-like or to partially staircase, borrowing more to pay off part of the government loan.

The Society also caters for those looking to repay their equity loan in its entirety with these borrowers qualifying for its standard residential mortgage range.

Both remortgage products allow overpayments and the Society will pay one standard valuation fee.

Roger Knight, lending manager at Newbury Building Society, said: “There is a lack of options for people remortgaging with the Help to Buy Equity Loan scheme as highlighted over recent months. As a result, we listened and have taken into account the need for flexibility; removing 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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