A year of promise

Written by RBS

5% deposit product and £500 cashback offer a boost to first-time buyers.

2017’s healthier housing market brings new opportunities for homebuyers – and Royal Bank of Scotland is ready to support brokers in realising customers’ dreams. Head of Mortgage Products, Terry Jordan, looks ahead to a promising year.

Benefits for first-timers The traditional home buying season opens with brighter prospects for first-time buyers than might have been feared.

Lenders were given the opportunity to move away from high-LTV products when the government withdrew its Help to Buy mortgage guarantee scheme at the end of 2016.

At Royal Bank of Scotland, however, we felt it was important to maintain our commitment to that market. We’ve maintained our 95% mortgage, 5% deposit product. While available to all types of buyers, it’s likely to remain especially attractive to first-timers who have struggled to save while renting.

The product is available for property values of up to £600,000, excludes new-build homes and is limited to capital repayment. First-time buyers with new RBS mortgages of up to 90% LTV also qualify for an extra bonus: a £500 cashback.

Inevitably, new buyers often lack understanding of mortgages and the application process. The support of brokers can be critical in helping customers avoid pitfalls and acquire a home relatively painlessly.

In turn, Royal Bank of Scotland’s Intermediary Partner (RBSIP) team is dedicated to supporting brokers in that process. Our Business Development Managers are available through the application process to discuss unusual cases or respond to queries.

Support for remortgages If spring and summer bring the traditional surge of new home buying, autumn will be the season for remortgaging. Large tranches of maturities are set to arrive in September and October.

Customers with good payment records stand to benefit from broker guidance as their existing deals expire. Steered towards Standard Variable Rate under the terms of the original offer, many need the expertise of brokers to direct them to substantially better deals available on the market.

Again, we offer a range of appealing deals in this sector. Customers also benefit from our award-winning service.
Brokers, too, can expect the highest standards when they seek support from the RBSIP team. The team recently scooped a Financial Adviser Five Star Service Award, the latest in a long list of recognition from the industry.

We look forward to supporting brokers through a busy and successful year.