Budget 21: NatWest calls on lenders to support the market

Jake Carter

March 3, 2021

natwest product transfers

Following the news of the stamp duty holiday extension NatWest has confirmed that all customers in receipt of an offer from NatWest can apply for this offer, extended by three months, to enable them to take advantage of the extension.

The bank is calling on other lenders to do the same in order to support the wider market and ensure the benefits pass through to as many homebuyers as possible.

Also within the Budget, the Chancellor confirmed the launch of a Mortgage Guarantee Scheme to help those with lower deposits onto the housing ladder.

NatWest has revealed that it is one of the participating lenders in the mortgage guarantee scheme.

The government will offer incentives to lenders in order to bring back 95% LTV mortgages.

Lloyd Cochrane, head of mortgages at NatWest Group, said: “The extension of stamp duty will help those currently in the process of purchasing a property.

“For those customers with smaller deposits looking for a mortgage, particular younger or first time buyers, saving up for a big deposit can often be difficult, and we know people in these groups are some of the hardest hit by the effects of the pandemic.

“A government backed mortgage guarantee scheme will help segments of the market for whom home ownership has felt far out of reach in recent months.

“We’re committed to all schemes that support more sustainable and greener home ownership.”

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