Mortgage News
NatWest brings back 85 per cent LTV mortgages for direct customers
NatWest has reintroduced 85 per cent loan to value (LTV) deals to direct customers after withdrawing them in response to the coronavirus pandemic.
The bank is introducing eight new rates across purchases and remortgages, with customers able to apply online and digitally upload documents.
The deals are to be rolled out to intermediaries “in the coming weeks”, the lender said.
On Friday, NatWest Intermediary Solutions will also be increasing rate changes to their core product range for new business customers.
Select two-year purchase and remortgage deals will be raised by up 10bps and seven bps respectively.
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The new 85 per cent deals for buyers will offer a two-year fix of 1.94 per cent with a £995 fee and £250 cashback, and a fee-free option fixed at 2.95 per cent.
A five-year fix of 2.34 per cent with £995 fee and £250 cashback, as well as a fee-free 3.39 per cent.
The options are similar for remortgages, but with different rates.
Lloyd Cochrane, head of mortgages at NatWest, said: “We know that the recent uncertainty in the housing market has created difficulty for people seeking to own their own home, and we’re pleased to be reintroducing these new rates to support the aspirations of homebuyers play our part in supporting the housing market.”