NatWest Intermediary Solutions has unveiled a new first-time buyer purchase mortgage in its current account range.

It is a five-year fixed rate, with an initial rate of 4.79%, 90% LTV, with no product fee and is available to all intermediaries.

The product is open to applicants that have an active NatWest or RBS current account that was open on 1 July 2012 and at the time the application is accepted.

Overpayments of up to 10% of the outstanding balance per annum are allowed during the initial deal period.

Early repayment charges are as follows: 5% until 31 October 2013, 4% until 31 October 2014, 3% until 31 October 2015, 2% until 31 October 2016, 1% until 31 October 2017.

Mark Bullard, head of sales at NatWest Intermediary Solutions, said: “We know from conversations with our business partners that they have been really keen to have a deal of this kind for the first time buyer market so I am delighted that we have been able to add this to the current account range we launched earlier this week.”