On the 19th September we are delighted to be launching a new range of Help to Buy Shared Equity Remortgage products, which will allow customers with another lender to save money by remortgaging to NatWest.

We want to take this opportunity to outline the process involved and  to also cover the fees the customer will be required to pay.

Customers with a Help to Buy Shared Equity mortgage with another lender will be able to remortgage to us on a like for like basis, keeping the same balance and term. To switch, customers need to notify the Home and Communities Agency (HCA) and, if applicable, the Developer Lender for consent to change mortgage lender.

  • On completion we will provide customers with £500 cashback to offset the scheme fees charged when changing lenders.
  • Customers are required to pay a Deed of Postponement administration fee of £115 to the HCA through their scheme administrators (Target) and need to do this directly themselves – they can call them on 0345 848 0235;
  • Customers are required to pay a Deed of Postponement fee of £150 + VAT (Some developers also charge £150 when changing mortgage provider) and £95 + VAT for additional legal work to complete this by our solicitors whilst interacting with Target;
  • Customers will also be required to pay a CHAPS fee of £30 + VAT.  (If there is any remaining funds to be paid back to the customer there is an additional chaps fee of £30 + VAT (customer has option to have this paid by cheque free of charge);
  • Customers wanting to complete a Transfer of Title to remove a party from the mortgage are required to pay an administration fee of £50 to the HCA;
  • Our solicitors will act on behalf of the customer to process their application and provide the scheme administrator, Target, with the necessary paperwork;
  • All Help to Buy Shared Equity Scheme rules and policies apply;
  • If a customer is looking to repay any shared equity loan then we can also help with any of our standard remortgage products.

We believe the remortgage page on the ‘Myfirsthome’ website is a great guidance tool which has been set up to help people once they complete on help to buy. ‘Myfirsthome’.