Newbury BS unveils partial Help to Buy offering

Newbury Building Society has reduced the pricing of its 85% LTV Help to Buy remortgage product, with the change applying to new and existing borrowers looking to pay off some or all their government loan.

The 85% LTV Help to Buy product is now a three-year fixed offering at 2.74%, which has been cut from 2.99%.

The society suggested it is one of only a handful of lenders that offers a Help to Buy remortgage product to borrowers looking to keep some or their entire loan.

Newbury Building Society lending manager, Roger Knight, commented: “The Help to Buy remortgage market is yet to reach maturity, with very few remortgage products available to Help to Buy borrowers, especially those looking to staircase.

“By offering a partial staircase, we release the pressure of having to remortgage away from the scheme in its entirety; a welcome reprieve for those who are unable to repay the government loan in its entirety. By doing so, we hope to continue assisting customers achieve their homeownership ambition.”

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