NatWest extends new build incentives
NatWest Intermediary Solutions has extended its criteria to accept builder’s financial incentives of up to 5% of the purchase price on shared equity Help to Buy new build.
The lender recently raised the maximum limit it would accept on builder’s incentives from 2% to 5% of the purchase price of a new build property, including non-financial incentives for properties bought using the Help to Buy shared equity scheme.
Now, financial incentives such as the payment of stamp duty, legal fees or cashback will also be able to be included in the 5% incentive allowance.
Customers who have already submitted an application and who haven’t yet completed will be able to include up to 5% of builder’s incentives.
A spokesperson for NatWest Intermediary Solutions said: “With the Help to Buy shared equity scheme expected to continue to be a popular route for homebuyers to purchase their first new build property, we are pleased to be able to offer the same allowable incentives limit to those people using the scheme.”