NatWest to launch new first-time buyer deals and cut rates

Robyn Hall

July 25, 2016

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NatWest Intermediary Solutions is launching a suite of first-time buyer products tomorrow while making a rate reductions to its standard residential purchase mortgages.

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 and also reducing rates on its 95% LTV Help to Buy mortgage guarantee scheme deals.

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.

Annual house price growth rises for first time in eight months

“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.”

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.

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