Kensington will launch a Help to Buy equity loan proposition in July.
The plans, which were announced at today’s (12 May) Legal & General New Build Forum, include loans being available to London, England and Wales.
Further details on the lender’s proposition will be announced in due course.
Steve Griffiths, director of sales and distribution at The Northview Group, said: “As a lender that is passionate about supporting customers with complex circumstances, extending our range to offer the option of Help to Buy will help hard pressed home buyers take their first step on to the housing ladder across England and Wales and the capital.
“It will also dovetail nicely with our New Build product range.”
Craig Hall, new build manager at Legal & General Mortgage Club, said: “It is great to see more specialist lenders like Kensington signing up to Help to Buy, helping borrowers that don’t fit into high street lending criteria to make the most of the government’s scheme.
“Legal & General Mortgage Club has worked closely with Kensington on the launch of its new proposition, assisting in the development of the lender’s offering and providing market insight.
“We are particularly pleased to see Kensington announce its intention to support Help to Buy customers in Wales, as this is a market which has traditionally been underserved.”
simon.allin@ft.com
