The Government’s NewBuy housing initiative launched today, with Nationwide, Barclays and NatWest all confirming 95% LTV products.

In addition, Santander has announced it will begin offering NewBuy mortgages through intermediaries from the middle of 2012, while Halifax is also expected to announce a NewBuy range soon.

Deals are backed by an indemnity guarantee funded by house builders and the government, which is designed to cover a limited amount of any future losses lenders suffer if they have to repossess the home and sell it for less than the mortgage.

Barclays and Nationwide will offer mortgages on properties built by Barratt, Bellway, Bovis, Persimmon, Redrow and Taylor Wimpey while NatWest will also include Linden Homes.