NatWest to accept Help to Buy and NewBuy
The Help to Buy scheme is open to all intermediaries and NatWest has two shared equity mortgage deals available for applicants – a 2-year fixed rate at 3.15% and a 5-year fixed rate at 3.59%, both with no product fees.
Mark Bullard, head of sales at NatWest Intermediary Solutions, said: “Schemes that give first-time buyers a helping hand are very welcome and we are pleased that we will be participating in both the Help to Buy and NewBuy schemes.
“We have been an active supporter of previous shared equity schemes and have had products specifically designed for this sector.
“We have continued to support the first-time buyer market with the 90% loan to value deals available in our range and criteria such as accepting gifted deposits and allowing multiple applicants.
“Being able to add the NewBuy scheme into our offering is pleasing as it means we are able to have a presence in the intermediary sector for the vast majority of first-time buyer scenarios.”
The NewBuy scheme is available to those intermediaries that are on the selected panels of participating builders and developers.
NatWest is also launching two specific mortgages to support the scheme – a 2-year fixed rate at 4.49% and a 5-year fixed rate at 4.79%, both with no product fees.
NatWest It is writing to all intermediaries who are on the participating builders and developers selected panels to inform them that they can now submit applications using the NewBuy scheme and outlining the processes they need to follow.
The bank will begin accepting applications tomorrow.