MortgagesJan 13 2014

Natwest opens Help to Buy deals to brokers

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Natwest has announced that its Help to Buy mortgage products launched to the market in October will be launched for intermediaries from tomorrow (14 January).

The deals, which were previously unavailable through Natwest for Intermediaries, comprise of a 4.99 per cent two-year fixed rate and a 5.49 per cent five-year fixed rate Help to Buy mortgage. Both deals are available at 95 per cent loan-to-value (LTV) with no product fee.

Last week, Santander launched its range of mortgages being made available under the second phase of the Help to Buy scheme, including identical two-year and five-year fixed rate deals and a third variable rate tracker at 4.99 per cent.

As with Santander, there is no product fee on the Natwest mortgages, which are available for properties covered under the scheme up to a value of £600,000.

Natwest is also reducing rates on some of its 60 per cent LTV purchase and remortgage deals. A two-year fixed rate is decreasing to 1.85 per cent from 1.89 per cent, with a £995 product fee.

Mark Bullard, head of sales at Natwest Intermediary Solutions said: “There has been a lot of anticipation about the introduction of mortgages to support the Help to Buy: mortgage guarantee scheme, so I am delighted that we now have these deals available to intermediaries.

“It is a great way to kick off 2014 which promises to continue the market improvements seen in 2013. As a mainstream lender, we are committed to supporting brokers this year with a comprehensive range of mortgages, five star service and top quality BDM support.”