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NatWest ups core mortgage rates again

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  • 23/10/2017
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NatWest ups core mortgage rates again
NatWest will be increasing interest rates on core range purchase mortgages and remortgages from tomorrow.

The increases, which are the second in less than a month, will hit residential and buy-to-let two- and five-year fixed-rates and are up to 20bps.

The lender said it was matching the rest of the market, which was anticipating a Base Rate rise from the Bank of England. This expectation has pushed Swap rates higher prompting several lenders to raise rates.

However there is still uncertainty about whether rates will be increased at the next Monetary Policy Committee meeting in November.

NatWest head of sales Mark Bullard said: “We have repositioned our portfolio to reflect the current market environment that’s anticipating an increase in base rate.

“We continue to offer a very broad range of attractive deals for brokers and their customers and an appetite for buy-to-let business as demonstrated by the changes we made recently to our proposition and the further enhancements we have planned.”

 

The deals affected are:

Residential

  • two- and five-year fixed rate purchase deals – increasing by between 16-20bps
  • two-year fixed rate remortgages – increasing by 15bps
  • five-year fixed rate remortgages – increasing by 5bps
  • First-time buyer only: two- and five-year fixed rate purchase – increasing by 20bps
  • Shared equity scheme: two- and five-year fixed rate purchase – increasing by 20bps

 

Buy-to-let

  • two- and five-year fixed rate purchase and remortgages – increasing by 10bps

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