You are here: Home - News -

NatWest slashes rates across range

by:
  • 04/12/2012
  • 0
NatWest slashes rates across range
NatWest Intermediary Solutions is to cut rates across its mortgage product range, including a new range of fee-free 50% LTV mortgages.

The lender is making over a dozen rate reductions and introducing a number of new fee-free products ahead of Christmas for its main bank and Core ranges tomorrow.

NatWest is to offer a fee-free two-year fixed rate mortgage at 2.75% and a five-year fixed rate product at 3.25%, available up to 50% LTV. A two-year tracker at 3.09% is available up to 70% LTV with no product fees.

The lender is also lowering rates on its three-year fix to match its two year offering and both products will now be available at 2.75%, with fees of £995.

In the buy-to-let range a pair of new deals will be introduced at the 60% LTV level, with a two-year fix available at 3.79% and a tracker at 3.65%, both with £495 product fee.

Mark Bullard, head of sales at NatWest Intermediary Solutions, said that the bank’s new products would help fill in gaps in the market for brokers.

“In the run-up to Christmas, I am pleased that we are able to offer our business partners an even better choice of mortgages.

“Having looked at the market to see where we could offer some added value, we identified that the sub-50% LTV sector was one where intermediaries had limited choice, so our new ‘no product fee’ mortgages should prove to be attractive.

“In addition, we have decided to extend the rates currently being offered on a number of our two-year fixed rate deals to a selection of our three-year deals as a festive special, effectively offering brokers the chance to offer their clients a two-year rate on a three-year deal.”

Main Bank and Core ranges rate changes:
• Two-year fixed rate reducing to 2.28% from 2.29%, 60% LTV, £1,995 product fee.
• Two-year fixed rate reducing to 2.75% from 2.85%, 70% LTV, £995 product fee.
• Two-year fixed rate reducing to 3.19% from 3.29%, 70% LTV, no product fee.
• Three-year fixed rate reducing to 2.75% from 2.99%, 70% LTV, £995 product fee.
• Three-year fixed rate reducing to 3.19% from 3.35%, 70% LTV, no product fee.
• Three-year fixed rate reducing to 3.39% from 3.45%, 75% LTV, £995 product fee.
• Three-year fixed rate increasing to 3.79% from 3.75%, 75% LTV, no product fee.
• Five-year fixed rate reducing to 3.15% from 3.49%, 70% LTV, £995 product fee.
• Five-year fixed rate reducing to 3.59% from 3.79%, 70% LTV, no product fee.
• Two-year fixed rate increasing to 5.99% from 5.75%, 90% LTV, £995 product fee.
• Five-year fixed rate increasing to 6.39% from 6.09%, 90% LTV, £995 product fee.

Core range purchase and remortgage changes: 
• 18-month tracker reducing to 2.89% from 3.29%, 75% LTV, £995 product fee.
• Two-year tracker reducing to 2.85% from 3.15%, 75% LTV, product fee reducing to £1,995 from £2,495.

Buy-to-let rate changes:
• Two-year fixed rate reducing to 3.15% from 3.49%, 60% LTV, product fee increasing to £2,495 from £1,999
• Two-year tracker reducing to 2.99% from 3.49%, 60% LTV, product fee increasing to £2,495 from £1,999
• Two-year fixed rate reducing to 3.55% from 4.49%, 75% LTV, product fee increasing to £2,495 from £1,999
• Two-year tracker reducing to 3.19% from 4.09%, 75% LTV, product fee increasing to £2,495 from £1,999

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
/IMG/983/241983/nick-mothershaw-experian.JPG
The red fraud flags mortgage brokers need to spot

Nick Mothershaw, Experian's director of identity and fraud solutions, urges brokers to do their homework first before optimistically firing off...

Close