Precise Mortgages will enter into the Help to Buy London scheme in early February.
Precise Mortgages will enter into the Help to Buy London scheme in early February.
Under the terms of the scheme, which kicks off on 1 February, borrowers can put down a 5% deposit and get an interest-free loan from the government of up to 40% of the property’s value.
The lender will retain the same pricing as its existing Help to Buy equity loan range, which launched last week. It offers a 2-year fix at 3.95% and a 4-year fix at 4.20% with £995 product fee and £450,000 loan limit.
Alan Cleary, managing director of Precise Mortgages, said: “It’s our intention to support as many of the government’s initiatives as we can.”
Precise also plans to enter the Right to Buy and shared ownership schemes later in the year.
Leeds Building Society and Nationwide both launched their own range of Help to Buy London products this week.
