Newbury cuts rate on HTB remortgage product

Jake Carter

March 16, 2020

stamp duty

Newbury Building Society has reduced the rate on its Help to Buy remortgage product.

The 85% LTV 3-year fix has been cut from 2.99% to 2.74%.

This deal is for existing borrowers only, allows for overpayments and the lender will cover one standard valuation fee.

Furthermore, the building society outlines that it is one of “only handful of lenders, which offers a HTB remortgage product to borrowers looking to keep some or their entire loan.”

Roger Knight, lending manager at Newbury Building Society: “The HTB remortgage market is yet to reach maturity, with very few remortgage products available to HTB borrowers, especially those looking to staircase.

“By offering a partial staircase, we release the pressure of having to remortgage away from the scheme in its entirety; a welcome reprieve for those who are unable to repay the government loan in its entirety.

“By doing so, we hope to continue assisting customers achieve their homeownership ambition.”

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