It will offer a 2-year fixed rate at 4.29% and a 5-year fixed rate at 4.99%. Both products come with a £499 fee.
The products will only be eligible for New Build properties in England. Under the scheme the purchase price must be less than £500,000 and not linked to another scheme such as shared ownership or shared equity.
Moray McDonald, mortgages director at NatWest, said: “We welcome the builders and government sharing the risk to make this initiative possible. We hope the increased demand it will create will help lift the economy via the construction of additional homes.”
The products will only be available direct through NatWest and not available through advisers.
