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NatWest cuts mortgage rates as Ipswich offers fresh first-time buyer deals – roundup

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  • 15/01/2019
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NatWest cuts mortgage rates as Ipswich offers fresh first-time buyer deals – roundup
Lenders are shaking up their propositions as the New Year gets under way and competition for borrowers remains high.

 

NatWest is to cut rates on select residential and buy-to-let mortgage deals.

The lender is trimming up to 50 basis points off remortgage and landlord mortgages in its core range

At the same time, in the semi-exclusive range the lender has launched two new 90% loan to value two-year remortgages.

Further rate cuts have been made to buy-to-let remortgages in the semi-exclusive ranges.

Mark Bullard, head of sales said: “We’ve taken this opportunity to review our proposition to ensure it is in line with current market conditions.

“We have been able to make some significant rate reductions, emphasising our intent to make 2019 a successful year.”

 

Ipswich launches first-time buyer mortgages

Ipswich Building Society has launched two deals for borrowers with a deposit of only five per cent.

The loans are available to applicants with gifted deposits, including entirely gifted funds for those who have been renting for 12 months or more.

One of the mortgages is a two-year fix rate of 2.93%, with a completion fee of £800.

And the other is a two-year discount rate of the society’s Standard Variable Rate (currently 5.74%) minus 3.01% to give a current rate of 2.73% with no completion fee.

The new deals are exclusive to property purchases within Suffolk, Norfolk, Essex, Cambridgeshire, Hertfordshire, Bedfordshire, and Buckinghamshire.

Richard Norrington, CEO of Ipswich Building Society said: “As a mutual organisation we are committed to supporting our members and local communities.

“I am delighted we are able to assist first-time buyers, purchasing their property in our heartland area, with these dedicated products.

“Our manual underwriting process allows us to better understand the personal circumstances of applicants, meaning we are often able to lend to people who might be turned down by a provider with an automated application process.”

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