RBS unveils shared equity deals

RBS Intermediary Partners (RBS IP) has launched three new shared equity mortgages exclusively for intermediaries.

The deals are specifically for applicants purchasing a property using one of the Government’s shared equity schemes to raise a deposit.
The new products are all fixed rates offering a choice of maximum LTV levels.
There is the RBS three-year 70% LTV deal at 4.59% (4.0% SVR, 4.3% APR), with a £199 fee until 31 August 2012.
The 80% LTV product is priced at 5.89% (4.0% SVR, 4.7% APR), with a £199 fee until 31 August 2012.
The four-year 85% LTV product comes at 6.29% (4.0% SVR, 5.0% APR), with a £199 fee until 31 August 2013.
Overpayments of up to 10% of the outstanding balance per annum are allowed during the initial deal period. ERC applies. Advisers are able to recommend any intermediary product from the RBS range to shared equity scheme applicants.
Graham Felstead, head of sales, RBS IP, said: “The interest shown by intermediaries in the shared equity scheme sector is definitely growing. At the RBS IP Forum event held recently in Nottingham