The mortgages are available on a 3.69 per cent two-year fixed and a 4.49 per cent five-year fixed rate with no application fee, £500 cashback and a free valuation.
They are available up to 75 per cent loan to value for Help to Buy equity loan applications in England, Greater London, Scotland and Wales.
Scotland has previously been underserved by the Help to Buy scheme, with few lenders in the UK offering both the scheme and lending in Scotland.
More lenders have expanded their Help to Buy offering to Scotland-based consumers lately however, such as Precise in April.
Through the government’s Help to Buy equity loan, buyers can borrow 20 per cent of the cost of a new build property from the government with no loan fees for the first five years of owning the home, or 40 per cent in London.
This means buyers only need a 5 per cent cash deposit and a 75 per cent mortgage to make up the rest.
The initiative has helped thousands of borrowers take their first steps onto the property ladder with 200,000 properties being bought via the scheme since it launched on April 1, 2013, according to data from the government.
It was initially supposed to come to a close in 2021 but the Chancellor announced in the Autumn budget it would continue until 2023 but only for first-time buyers and with a price cap.
Stacey Wood, national new build relationship manager at Sesame and PMS, said: "We are very pleased to be working with Kensington Mortgages to launch these competitive Help to Buy exclusives for our members.
"Kensington’s flexible underwriting approach means they are also able to consider applicants who may have had a credit blip in the past, which provides more options for mortgage customers looking to purchase a new build home via this scheme."
New business director at Kensington Mortgages, Craig McKinlay, said affordability remained a big issue for many first-time buyers or those looking to buy a new build and that Help to Buy could be a helping hand.
He added: "These individuals, often with complex income streams, sometimes struggle to find a mortgage from high street lenders.
"We are therefore delighted to be able to bring our products to more people through the exclusives with PMS and Sesame."
The new product offering comes after PMS and Sesame launched a helpdesk for brokers advising on the new build sector last month (June 5) which offers guidance and educational tools to keep advisers updated on the latest developments.
Help to Buy has come under scrutiny lately as a National Audit Office report stated the scheme could leave buyers in negative equity and had left the government exposed to "significant market risk".
Concerns were also raised that the housing market had become too reliant on Help to Buy — funding up to 97 per cent of new build sales in some regions — and that consumers could face a crunch in their finances as the first wave of government loan fees kick in.
imogen.tew@ft.com
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