A number of rates in its core range will be reduced as part of the plan, with the number of individual brokers given access to its corporate range increasing by around 1,000.
The move follows an announcement in March where NatWest said it would look to expand the number of directly authorised firms if demand was sufficient. Around 200 DA firms have been given access to the range with these companies already informed of the decision.
Mark Bullard, head of sales at NatWest Intermediary Solutions, said: “We are operating in a rapidly changing market and have to make sure that we are able to manage and control the volume and mix of business we receive to preserve our service standards.
“We pledged to review the situation and, whilst we continue to take a measured approach, we are pleased to be able to widen access to our corporate range to a sizeable chunk of the DA market.
“We will continue to monitor the situation with a view to making the corporate range accessible to more intermediary firms.
“In the meantime, by introducing some new deals to our core range, those DAs and ARs who do not currently have access to the corporate range will also have a greater choice of products.”
Directly authorised firms that have access to the corporate range will need to submit applications online via the NatWest Intermediary Solutions website as the products are not currently available on sourcing systems.
New deals being added to the core range will be available to all intermediaries, they are:
• 2 year fixed rate, 60% LTV, purchase mortgage, initial rate of 3.59% and a £999 fee.
• 2 year fixed rate, 60% LTV, remortgage, initial rate of 3.65% and a £999 fee.
• 2 year fixed rate, 75% LTV, purchase mortgage, initial rate of 3.89% and a £999 fee.
• 2 year fixed rate, 75% LTV, remortgage, initial rate of 3.95% and a £999 fee.
• 2 year fixed rate, 75% LTV, purchase and remortgage, initial rate of 4.09% and £499 fee, capped at £100,000.
Rates have been reduced by 0.10% on several deals in the corporate range:
• 2 year fixed rate, 60% LTV, purchase mortgage has decreased to 3.49%.
• 2 year fixed rate, 60% LTV, remortgage has decreased by to 3.55%.
• 2 year fixed rate, 75% LTV, purchase mortgage has decreased to 3.79%.
• 2 year fixed rate, 75% LTV, remortgage has decreased to 3.85%.
