NatWest Intermediary Solutions has started accepting NewBuy clients through intermediaries for the first time and has launched two products for the Government’s Help to Buy shared equity scheme.
NatWest has launched two specific products for the Government’s mortgage indemnity scheme NewBuy: a two-year fixed rate at 4.49 per cent and a five-year fixed rate at 4.79 per cent, both of which have no product fees. These two products are the same loans that are offered to direct customers.
The NewBuy products are only available to intermediaries on the selected panels of participating builders and developers.
Intermediary borrowers are also able to choose from two new Help to Buy shared equity products – a two-year fixed rate at 3.15 per cent and a five-year fixed rate at 3.59 per cent, both of which have no product fees.
Royal Bank of Scotland, NatWest’s parent lender, has never offered Help to Buy products before, either direct or through intermediaries.
NatWest head of sales Mark Bullard says: “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.”
Your Mortgage Decisions director Dominik Lipnicki says: “The more players we have in the Help to Buy market the better. It proves there is more confidence in housing.”