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NatWest changes residential and buy-to-let product rates

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  • 13/12/2017
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NatWest changes residential and buy-to-let product rates
NatWest is changing a range of rates on its core and semi-exclusive ranges of residential and buy-to-let (BTL) purchase mortgages and remortgages.

Core range

Changes to the core residential range include:

  • Two year-fixed rate purchase products seeing small increases at the 70%-80% loan-to-value (LTV) deals, and decreases of 10-20 basis points (bps) for 90%-95% LTV deals
  • Five-year fixed rate purchase falling by 3bps and 10bps for 70% and 95% LTV deals respectively
  • All two-year fixed rate remortgages increasing by 10bps

Changes to the core range BTL include:

  • Select two-year fixed rate remortgage products increasing by 10bps

Meanwhile, a new residential and BTL range has been launched in the product transfer range.

 

Semi-exclusive range

Changes to the semi-exclusive range residential include:

  • First-time buyer only rate reductions of 13-18bps, and cashback reduction from £750 to £500
  • Select two-year fixed rate purchase increasing by 7-9bps, and a 22bps decrease on the 90% LTV product
  • Five-year fixed rate purchase decreases of between 1-25bps
  • Two-year tracker at 60% LTV increasing by 5bps
  • Two-year fixed rate remortgage increasing by 1-9bps, and the 90% LTV deal decreasing by 5-24bps
  • Select five-year fixed rate remortgages decreasing by between 3-30bps

Changes to the semi-exclusive range BTL include:

  • Select two-year fixed rate purchase and remortgage increasing by 5-26bps
  • Select five-year fixed rate purchase and remortgage increasing by 1-10bps
  • A new two-year fixed rate 60% LTV purchase introduced

Mark Bullard (pictured), head of sales at NatWest, commented: “Having reviewed our portfolio we have made a few adjustments to rates to reflect the current market conditions and balance our mix of business.”

Bullard continued: “I am delighted that we have added to our already extensive range of intermediary mortgages with the introduction of our product transfer mortgages enabling brokers to help current NatWest mortgage holders to switch to a new NatWest deal.”

Aside from product changes, NatWest also made headlines recently, when Mortgage Solutions reported on brokers’ query over the bank’s product transfer fees.

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