NatWest announces new sub-2% mortgage rates

From tomorrow, NatWest Intermediary Solutions will be introducing four new higher fee/lower rate 60% LTV mortgage deals into its intermediary range.

Related topics:  Mortgages
Rozi Jones
26th January 2015
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With product fees of £1,495 there will be a 2 year fixed rate at 1.49%, 3 year fixed rate at 1.99%, 5 year fixed rate at 2.49% and 2 year tracker at 1.39%, all with a maximum loan size of £750,000.

It is also making rate reductions to the majority of its intermediary mortgages, including its high LTV deals for the Government schemes.

2 year fixed rate deals include:

- 70% LTV reduced from 2.10% to 1.85% with £995 product fee
- 75% LTV reduced from 2.47% to 1.93% with £995 product fee and from 3.39% to 2.93% with no product fee
- 90% LTV reduced from 3.97% to 3.65% with £995 product fee and from 4.59% to 4.05% with no product fee

3 year fixed rate deals include:
 
- 80% LTV reduced from 2.93% to 2.75% with £995 product fee
- 90% LTV reduced from 4.13% to 3.94% with £995 product fee and from 4.89% to 4.19% with no product fee

- 75% LTV reduced from 3.59% to 2.98% with no product fee
- 85% LTV reduced from 4.05% to 3.58% with no product fee

5 year fixed rate deals include:

- 70% LTV reduced from 3.25% to 2.88% with £995 product fee and from 3.54% to 3.29% with no product fee
- 75% LTV reduced from 3.34% to 2.95% with £995 product fee
- 85% LTV reduced from 3.99% to 3.69% with £995 product fee and from 4.55% to 4.05% with no product fee
- 90% LTV reduced from 5.33% to 4.39% with no product fee

2 year tracker deals include a 70% LTV reduced from 1.90% to 1.75% and a 75% LTV reduced from 2.99% to 2.83%, both with a £995 product fee.

First time buyer products have also been reduced. The 80% LTV 2 year fix is now 2.93% and the 90% LTV 5 year fix is 4.35%, both with no product fee.

The 95% LTV deals for the Government’s Help to Buy and New Buy schemes are also receiving rate reductions. The 2 year fixed rate will come down 20bps from 5.15% to 4.95% and the 5 year fixed rate drops 14bps from 5.39% to 5.25%. Rate reductions for the Help to Buy shared equity scheme products include the 2 year fixed rate 75% LTV deal reducing from 3.39% to 2.93% and the 5 year fixed rate 75% LTV deal dropping by 10bps from 3.79% to 3.69%.

Mark Bullard, Head of Sales, NatWest Intermediary Solutions said:

“We have responded to market demands for a greater choice of higher fee/lower rate mortgages with our new 2, 3 and 5 year deals. And the huge number of rate reductions we are introducing will ensure that we retain a competitive market offering for intermediaries. These rate cuts have been made right across our LTV bandings from 60-95% LTV and also across our product fee and no product fee ranges.

“It’s been a great start to the year so far. Last week we appointed three new BDMs to bolster our intermediary-facing team and have more enhancements to our proposition in the pipeline. We are expecting 2015 to be even busier than last year and this rate change announcement is sure to grab the attention of many intermediaries.”

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