The lender is one of six banks which are offering 95% loan-to-value (LTV) mortgages through the government-backed scheme aimed at boosting homeownership.

When launching the deals back in April the bank announced it intended to offer the products for intermediaries. Now it has implemented changes to its application system to provide brokers with AIP’s which have a soft footprint for customers – this means it is ready to go ahead with the launch.

NatWest said the move underlined its commitment to low deposit lending for bother first-time buyers and existing homeowners.

Its new Mortgage Guarantee scheme will offer both two and five-year fixed rates at 95% LTV. The maximum purchase price of the properties will be £600,000 and cannot be repaid on an Interest only basis.

For the mortgage to be eligible for the new scheme, it will need to be a residential mortgage, not a second home and not buy-to-let. New builds are also exempt from the scheme.

On 2 June NatWest is also making changes to its proposition for buy-to-let customers.

It said its current requirement for an applicant to have £25,000 per annum income is being removed and they will no longer require a minimum income level to apply for a buy-to-let. The lender’s affordability calculator will be updated to reflect this change.