NatWest Intermediary launches 95% HTB replacement loans

Mark Bullard NatWest 2014

NatWest Intermediary Solutions is launching two new 95 per cent LTV house purchase mortgages to replace the deals it currently offers as part of the Help to Buy: mortgage guarantee scheme.

The first new mortgage is a two-year fixed rate at 3.69 per cent and with no product fee.

The second is a five-year fixed at 4.59 per cent, also with no product fee.

These products are available to first-time buyers and existing home owners who are buying existing properties for residential purposes.

New build properties cannot be bought with the new deals.

However, NatWest has another range to help those buying through the Help to Buy shared equity schemes.

The maximum property value is £600,000 and applicants must contribute at least a 5 per cent deposit.

There is no limit on the amount of income an applicant can earn and repayment must be on a capital and interest basis only.

NatWest Intermediary Solutions head of sales Mark Bullard says: “With the Help to Buy: mortgage guarantee scheme coming to an end on 31 December, we were keen to continue to support those customers who have a smaller deposit.

“We have launched these products now, before the scheme ended, to give brokers the certainty that they can carry on catering for those of their customers who are likely to want a higher LTV mortgage.”

All customers who have already applied for a Help to Buy: mortgage guarantee scheme product through NatWest are unaffected.