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Santander confirms plans to participate in Help to Buy 2

Santander has confirmed it will offer mortgages under the second part of the Government’s Help to Buy scheme, according to Reuters

Santander chief executive Ana Botin was quoted confirming that the bank would announce further details before the planned January launch of Help to Buy 2.

The bank already offers products based on the first part of the Government’s scheme, with provides borrowers with an equity loan of up to 20 per cent on new build properties. 

She told Reuters: “We are going to participate. The programme was originally meant to begin in January so we will try to advance that. We will announce the details on how we will participate closer to the date when we will be launching.”

RBS, NatWest and Halifax have already begun rolling out products for the second phase of Help to Buy, with 95 per cent deals starting at 4.99 per cent. Under the scheme, the Government will provide a guarantee of up to 15 per cent of the value for properties up to £600,000. OneSavings Bank, Aldermore and Virgin Money have all confirmed they will join the scheme. 

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