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RBS IP launches shared equity mortgages

RBS Intermediary Partners has launched three shared equity mortgage products exclusively for intermediaries.

The three fixed rate products have been designed specifically for applicants purchasing a property using one of the Government’s shared equity schemes to raise a deposit.

The first product is a three-year fixed rate at 4.59 per cent, with a 70 per cent loan to value and £199 fee until August 31 2012.

The second product is also a three-year fixed rate at 5.89 per cent with an 80 per cent LTV and a fee of £199 until August 31, 2012.

The RBS four-year fixed is at 6.29 per cent cent with an 85 per cent LTV and a fee of £199 until August 31, 2013.

All three products will move onto a 4 per cent SVR after the fixed-term is out.

RBS IP head of sales Graham Felstead says: “The interest shown by intermediaries in the shared equity scheme sector is definitely growing. These new products should provide our business partners with a range that fits the needs of first time buyers buying through one of these schemes.”

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