NatWest increases higher-LTV rates by up to 25bps

NatWest has announced a series of rate changes to its residential mortgage range.

Related topics:  Mortgages
Rozi Jones
7th October 2020
NatWest

For new business products, rates will rise by up to 15bps on purchase deals and 20 bps on remortgage deals.

NatWest's existing borrower product rates have increased by up to 25bps.

The bank's exclusive products are also seeing rate hikes, with two-year fixed rates increasing by 8bps to 1.61% at 70% and 75% LTV. At 85% LTV, two and five-year exclusive rates have increased by 15bps to 2.89% and 2.99% respectively.

On residential purchase products, two-year fixed rates have risen by 8bps to 1.66% at 70% and 75% LTV. At 85% LTV, two year exclusive rates have increased by 15bps to 2.94% with a £995 fee and 3.10% with no product fee. A five-year fix at 85% LTV has also increased by 15bps from 2.89% to 3.04% with a £995 fee.

Remortgage rates have seen increases of up to 20bps. The highest rise is to a two-year fix at 85% LTV, which is increasing by 20bps from 2.24% to 2.44%. At 80% LTV, a five-year fixed rate remortgage product has increased by 15bps from 1.89% to 2.04%, product fee £995. Other selected remortgage products have seen rate rises of 0.10%.

NatWest's existing customer mortgage rates have increased by up to 25bps. The largest rises are seen in the lender's two-year fixed rate mortgage switcher range, with a 60% LTV product increasing by 15bps from 1.44% to 1.59% and 85% LTV and 90% LTV products rising by 25bps to 2.44% and 2.69% respectively.

 

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