Natwest: Purchase mortgage updates
Natwest’s changes are effective from 14 January and include the following key adjustments:
- 60% LTV (Two-year-fixed): The product with a £1,495 fee, which has been reduced from 3.62% to 3.57%.
- 60% LTV (Two-year fixed): The equivalent option with a £995 fee has fallen from 3.67% to 3.62%.
- 90% LTV (Two-year fixed): The product with a £995 fee has been reduced by 0.06% to 4.14%
- 90% LTV (Fee-Free): This option has been reduced by 0.08% to 4.66%.
Changes have also been made to five-year fixed rate purchase products and two- and five-year fixed remortgages.
First-time buyers and five-year fixes
For first-time buyers, the two-year fix at 90% LTV with a £995 fee and £250 cashback has been reduced from 4.2% to 4.14%.
Across the five-year fixes, the fee-free option at 90% LTV has been cut by 0.05% to 4.28% and the option with a £995 fee by the same amount to 4.15%. Both offer £250 cashback.
NatWest has also lowered further advance mortgage rates.
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Newcastle Building Society: Product transfer reductions
Newcastle for Intermediaries, the broker-facing arm of Newcastle Building Society, has lowered rates across its product transfer offering.
Pricing now starts at 3.69%, following cuts of up to 0.14% up to 95% LTV.
Francesco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We know how important it is for brokers to be able to offer existing customers competitive options as they approach maturity. Over 70% of our customers with a product maturing this year will see a reduction in rate, so by allowing brokers to switch their clients’ deals three months before maturity, borrowers can start saving straight away. It also means brokers don’t need to wait until maturity to receive their proc fee.
“These rate reductions reinforce our commitment to supporting intermediaries with a strong, easy-to-use product transfer proposition that helps deliver certainty and value for borrowers.”
Santander: rate increases for new business and transfers
Santander has made mortgage rate increases to new business and product transfer mortgages, effective 14 January.
New business increases:
- Residential homemovers: Across its new business range, all three-year fixed rates for residential homemovers at 60% and 75% LTV will rise by up to 0.1%
- Five-year fixed rates: all five-year fixed rates between 60% and 95% LTV will increase by approximately 0.1%.
- First-time buyers: All five-year fixed rates for first-time buyers at 85%, 90% and 95% LTV will increase by up to 0.06%.
- Remortgages: Two-year fixed remortgages with a £1,999 fee, which will rise by 0.01%.
Product Transfer and Buy-to-lets
Elsewhere, Santander is increasing all five-year fixed rates at 60% and 75% LTV by as much as 0.07%.
Across its product transfers, all residential five- and seven-year fixed rates at 60% and 75% LTV will increase by as much as 0.07%, while the two-year fix at 75% LTV with a £1,999 fee will rise by 0.01%.
All buy-to-let (BTL) product transfer rates at 60% LTV, fixed for two or five years, will go up by up to 0.06%.
The changes will apply from 14 January.
