Kensington Mortgages has launched a new Help to Buy range supporting the government’s equity loan scheme for new build properties. The range allows bo
Kensington Mortgages has launched a new Help to Buy range supporting the government’s equity loan scheme for new build properties.
The range allows both first-time buyers and homemovers across Wales and England who have deposits of at least 5% to buy a new build.
Steve Griffiths, director of sales and distribution at The Northview Group, said: “Last month, Kensington announced its intention to enter the Help to Buy market.
Going for growth
“The government’s Help to Buy scheme is fundamental in helping many first-time buyers take their first steps onto the property ladder.
“This range gives customers both improved choice and a highly competitive deal when buying a new build property.”
The products are offered at 75% LTV and cover 2, 3 and 5-year fixed rate mortgages, with the maximum loan amount driven by maximum property value available on the Help to Buy scheme which is currently £600,000 for England and £300,000 for Wales.
Rates start from 3.64% and free valuations are also included in the offer, with no interest payable for the first five years on the equity loan.
In line with this launch, Kensington has also updated its residential new build range, with new 5-year fixed rates starting from 3.74% at 75% LTV.