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Today (March 6), NatWest has stopped helping to buy stock purchase products.
The move comes after the government of England closed the affordable homeownership scheme later this month after a decade.
A major bank has recalled the following Help to Buy products: Equity products:
Purchase with a fixed rate for two years
- 60% loan of 4.73% loan value, with £995 product fee and £250 cashback.
- Loan 60% LTV at 4.99%, no product fee
- Loan 75% LTV at 5.09%, no product fee
- And a 75% LTV loan at 4.78%, with a £995 product fee and £250 cashback.
Purchase at a fixed rate for five years
- Offering 60% LTV at 4.29%, with a £995 product fee and £250 cashback.
- Offer 60% LTV at 4.53%, no product fees
- Offering 75% LTV at 4.34%, with a £995 product fee and £250 cashback.
- And offers 75% LTV at 4.63% with no product commission.
The bank says online mortgage illustrations are being filed online for existing deals that ended March 3.
But brokers who were unable to submit an online application due to a technical issue that could not be resolved over the phone had to send an email to their business development managers by noon on March 6.
Applications received after this time will not be considered.
There are no changes for existing customers or expiration dates, the bank said.
Help with a purchase scheme in Wales was extended until March 2025, but in Scotland this program ended in March 2021.
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