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NatWest set to vary rates but adds £500 cashback sweetener

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  • 22/05/2017
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NatWest set to vary rates but adds £500 cashback sweetener
NatWest is set to change its rates across a number of two and five-year residential mortgage purchase deals as well as adding a £500 cashback offer to selected products, from tomorrow.

The bank will increase the rates on five two-year fixes by up to 15 basis points. At the lower end of the loan-to-value scale, a 60% LTV product will rise from 1.41% to 1.42%. For borrowers with a 5% deposit, however, the two-year fixed rate will increase from 4.14% to 4.29%. Its 85% LTV product will fall by 5bps from 1.72% to 1.67%.

Customers choosing five-year fixed rates will enjoy mostly rate cuts. Rates are being reduced by up to 30 basis points. The exception is the 95% LTV deal which is increasing by 16bps from 4.65% to 4.81%.

The £500 cashback offer has been added to all the deals except those at 95% LTV.

Mark Bullard (pictured), head of sales, said: “We know that cashback deals have proved to be very popular with first-time buyers, so we are really pleased to be able to make these available to homemovers as well, across a wide range of LTV bandings.”

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