21
Jan
RBS IP offers help for first-time buyers
A new product has been launched by RBS Intermediary Partners that
has been designed to assist first-time buyers trying to put
together a deposit.
The First Home Saver Account pays interest at a rate of 0.5 per
cent and offers up to £5,000 cash back, tax-free, to savers
who go on to take out an RBS mortgage, Introducer Today
reports.
Legal & General Mortgage Club has been working with RBS on the
new scheme and mortgages director at the financial services company
Ben Thompson said he was "pleased" to be part of a collaboration
that helps those who want to buy a property.
He suggested there had not been much good news for this segment
recently, but "things seem to be on the up as loans to first-time
buyers are up almost 50 per cent and first-time buyer confidence is
on the increase".
The Mortgage Club announced last month that it had expanded its
panel of lenders to include Newcastle Building Society, with which
it launched a number of semi-exclusive mortgages.