NatWest Intermediary Solutions is launching tomorrow (19 September) a new range of Help to Buy shared equity remortgage products.
It claims that they may allow customers with another lender to save money by remortgaging to NatWest.
Customers with a Help to Buy Shared Equity mortgage with another lender will be able to remortgage to NatWest on a like for like basis, keeping the same balance and term. To switch, customers need to notify the Home and Communities Agency (HCA) and, if applicable, the developer lender for consent to change mortgage lender.
The new products are as follows:
Help to Buy: Shared Equity Remortgage
2 year fixed rate remortgage – Shared equity
- [FO18093] 60% LTV, 1.85% (4.0% APRC, 4.24% SVR), £995 product fee, £500 cashback
- [FO18094] 60% LTV, 2.90% (4.1% APRC, 4.24% SVR), £0 product fee, £500 cashback
- [FO18095] 70% LTV, 1.88% (4.0% APRC, 4.24% SVR), £995 product fee, £500 cashback
- [FO18096] 70% LTV, 2.90% (4.1% APRC, 4.24% SVR), £0 product fee, £500 cashback
- [FO18097] 75% LTV, 1.96% (4.0% APRC, 4.24% SVR), £995 product fee, £500 cashback
- [FO18098] 75% LTV, 2.90% (4.1% APRC, 4.24% SVR), £0 product fee, £500 cashback
5 year fixed rate remortgage – Shared equity
- [FO18099] 60% LTV, 2.15% (3.6% APRC, 4.24% SVR), £995 product fee, £500 cashback
- [FO18100] 60% LTV, 3.49% (4.0% APRC, 4.24% SVR), £0 product fee, £500 cashback
- [FO18101] 70% LTV, 2.24% (3.6% APRC, 4.24% SVR), £995 product fee, £500 cashback
- [FO18102] 70% LTV, 3.49% (4.0% APRC, 4.24% SVR), £0 product fee, £500 cashback
- [FO18103] 75% LTV, 2.26% (3.6% APRC, 4.24% SVR), £995 product fee, £500 cashback
- [FO18104] 75% LTV, 3.59% (4.1% APRC, 4.24% SVR), £0 product fee, £500 cashback
2 year fixed rate remortgage
- [FO18092] 75% LTV, 1.59% (4.0% APRC, 4.24% SVR), £995 product fee
Mark Bullard, head of sales at NatWest, said: “We are constantly improving our products to ensure our proposition is the best it can be in current market conditions. Today’s launch demonstrates our commitment to continuous improvement.
“At the same time we’ve taken the opportunity to make some significant rate reduction across our core and semi exclusive range.”