Kensington Mortgages intends to launch a Help to Buy equity loan proposition for London, England and Wales, with a planned roll-out in July.
The plans was announced at Legal & General’s New Build Forum on Friday.
Steve Griffiths, director of sales & distribution at The Northview Group, Kensington’s parent, 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, added: “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.”