This launch follows swiftly after the introduction last week of a number of new 60%, 70% and 75% LTV Help to Buy shared equity mortgages. The new deals, that will all feature a £500 cashback payment that the customer will receive on completion of their mortgage, are:
2 year fixed rate
80% LTV 2.72% (APRC 3.9%, SVR 4.0%), £0 product fee
85% LTV 2.87% (APRC 3.9%, SVR 4.0%), £0 product fee
90% LTV 2.97% (APRC 3.9%, SVR 4.0%), £0 product fee
5 year fixed rate
80% LTV 3.54% (APRC 3.9%, SVR 4.0%), £0 product fee
85% LTV 3.57% (APRC 3.9%, SVR 4.0%), £0 product fee
90% LTV 3.88% (APRC 4.0%, SVR 4.0%), £0 product fee
To be eligible for one of these deals only one of the applicants is required to be a first-time buyer.
Mark Bullard, Head of Sales, NatWest Intermediary Solutions said: “Cashback has been a growing feature on first-time buyer mortgages since the end of 2014, with 40% of first-time buyers opting for a cashback mortgage in 2016. As part of our commitment to support first-time buyers, we believe that the addition of cashback, alongside our Help to Buy, shared equity and other first-time buyer mortgages offers brokers a really comprehensive choice for their customers.”
