11
Mar
RBS in new mortgage pledge
An extra £1.7 billion worth of mortgages will be offered to
homebuyers in Scotland over the course of 2009 and 2010 under new
plans announced by the Royal Bank of Scotland (RBS).
The lender, which has been bailed out by the government, revealed
that it will be making available home loans as part of an agreed
plan with the Treasury that will see it increase lending in return
for the state help it has received.
Such a move could help first-time buyers in Scotland who are trying
to get on the housing ladder to do so more easily, with the bank
stating it will offer deals of up to 90 per cent loan-to-value to
help with this.
Commenting on the news, chief executive of consumer banking for RBS
Paul Geddes said: "Our message to customers in Scotland is very
clear: we are now, more than ever, open for mortgage
business."
Responding to the announcement, Moneyextra.com urged RBS to
concentrate the lending on helping first-time buyers and buy-to-let
investors who are struggling to raise deposits.
