The news comes just days after Connells announced two other high LTV products, both of which are also only available through its national team of employed mortgage consultants.
This new NatWest product responds to a clear and pressing need for higher LTV mortgages as many buyers struggle to raise large deposits to buy a home.
Key product features:
• Two-year fix to 90% LTV
• Interest rate: 5.79%
• Application fee: £0
• Completion fee: £999
• Early repayment charge: 3% until 30/04/13
• Overpayments of up to 10% per annum during the product term
• Revert to SVR currently 4%
“It is fantastic to see another competitive, higher LTV mortgage become available at a time when it is so greatly needed,” said Ross Bowen, Group Connells mortgage director. “Connells hold a pivotal position in the market, and remain fully committed to bringing forward initiatives to enable customers to buy their home.
“The long-term health of the housing market relies upon what we do now to revive the first-time buyer market. Lenders and intermediaries need to be doing all they can to help this group into home ownership with higher LTV products, like the one we are launching with NatWest.”
