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We've launched new products for all Help to Buy Equity Loan schemes

25 May 2016

We’ve been a proud supporter of the Government’s Help to Buy Guarantee and Equity Loan schemes for a long time. And we’re pleased to announce that we have extended our support to offer loans under both the Help to Buy London and Help to Buy Scotland Equity Loan Scheme rules, alongside those offered in the rest of England and Wales. We want to make it easier for your first and next time buyers to purchase a new build home with as little as a 5% deposit.

Available Nationally

Through our commitment to the Government’s new build initiatives, we have launched a new range of products designed to suit the needs of customers looking to purchase a home through an Equity Loan Scheme. Take a look at our new range of 2 and 5 year fixed rate deals:

  • 2 year fixed rates at 55% LTV with a £995 fee available from 1.78%, with fee saver options available from 2.15%. All deals come with £500 cashback.
  • 5 year fixed rates at 55% LTV with a £995 fee available from 2.40%, with fee saver options available from 2.75%. All deals come with £500 cashback.
  • 2 and 5 year fixed rates remain available at 75% LTV, with £995 fee deals available from 1.79% and fee saver options available from 2.38%.
  • Stamp Duty Buster 2 and 5 year fixed rate products at 75% LTV with a £995 fee start from 2.84%. These come with £2,500 cashback.

Your customers who have larger deposits can also apply for the lower LTV deals, which could help next time buyers who have equity in their existing property.

Help To Buy Scotland

In addition to our national deals, we also offer a range of 80% LTV products with cashback exclusively for Help to Buy Scotland Equity Loan Scheme customers. These include 2 year fixed rates with a £995 fee available from 2.04% and fee saver options available from 2.60%. 

Affordability Policy

What’s more, we have recently improved our affordability policy meaning we’ll now offer more of your new build and Help to Buy Equity Loan customers the loan amount they need. We’ve also enhanced the way we calculate the Help to Buy Government fees as part of your client’s monthly financial commitments, now 3% of the equity loan, reduced from 4%.

End dates are 1 September of the relevant year across all products.

For full details of our new range, please view our latest Mortgage Update

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