Aldermore Bank has launched into the Help to Buy London scheme with a 2-year fix at 3.98% to 75% loan-to-value.
Under the terms of the scheme borrowers can put down a 5% deposit and get an interest-free loan from the government of up to 40% of the property’s value.
The scheme allows first and second-time buyers to purchase new build properties in the capital up to a maximum value of £600,000 with a maximum loan of £450,000.
Charles Haresnape, Aldermore’s group managing director, mortgages, said: “I’m delighted to announce that the bank is to support the London Help to Buy scheme.
“Aldermore continues to have a proud record of supporting homeowners across the UK. We believe the Help to Buy scheme has had an extremely positive impact on homeownership and recognise the particular difficulties for many people trying to buy in London.
“Our product and the wider scheme will help those looking to buy and make a home in the capital.”