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NatWest cuts rates on five-year deals but ups first-time buyer products

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  • 31/05/2016
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NatWest cuts rates on five-year deals but ups first-time buyer products
NatWest Intermediary Solutions is reducing rates on several of its five year residential fixed rate deals by between 20 and 28 basis points but making some increases to its higher loan to value (LTV) deals tomorrow.

Head of sales Mark Bullard (pictured) said five year fixed rate deals are popular with many mortgage advisers and their customers “as it gives them long term certainty about their mortgage payments”. He said NatWest was now able to offer more attractive rates across the majority of LTV options.

Rates on the 60% and 85% five-year residential deals, both with a £995 product fee, will fall most, dropping 28 basis points; the 60% product will fall from 2.53% to 2.25%, while the 85% deal will decrease from 3.28% to 3%.

The rates on 70%, 75% and 80% five-year deals will also fall.

However, the first-time buyer only residential 90% five-year mortgage will increase by five basis points, from 3.60% to 3.65%, while the Help to Buy mortgage guarantee offering will increase from 3.79% to 3.99% on the two year fixed rate deal and from 4.61% to 4.69% on the five year deal.

Residential purchases and remortgages will increase from 2.50% to 2.60% on two year fixed rate 90% deals.

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