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NatWest returns to 85 per cent LTV mortgage lending

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  • 17/08/2020
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NatWest returns to 85 per cent LTV mortgage lending
NatWest is re-introducing 85 per cent loan to value (LTV) mortgage products from 18 August.

 

Applications for the two-year and five-year 85 per cent LTV deals will only be available for residential purchase, excluding new build, and residential remortgage on a like-for-like basis.

At the same time, NatWest is also increasing rates on its portfolio by up 13 basis points (bps).

For new borrowers, its core purchase range will see rate increases of up to 13bps on selected two-year deals and up to 12bps on selected five-year deals.

Core remortgage deals will have rates increased up to nine bps on selected two-year deals and four bps on the 80 per cent LTV five-year deal.

For those seeking high value remortgages, rates will increase four bps on the 60 per cent LTV two-year deal and up to four bps on selected five-year deals.

Meanwhile, on product switches rates will rise up to eight bps on selected two-year deals and up to seven bps on selected five-year deals.

Mark Bullard, head of sales at NatWest Intermediary Solutions said: “We promised intermediaries at the end of July that we would be bringing back 85% LTV products and I’m happy we’re now able to deliver on this promise.”

 

The new 85 per cent LTV deals are:

Two-year fixed rate purchase – £0 product fee at 2.95 per cent; £995 product fee and £250 cashback at 2.14 per cent.

Two-year fixed rate remortgage – £0 product fee at 2.90 per cent; £995 product fee at 2.14 per cent.

Five-year fixed rate purchase – £0 product fee at 3.39 per cent; £995 product fee and £250 cashback at 2.44 per cent.

Five-year fixed rate purchase – £0 product fee at 3.18 per cent; £995 product fee at 2.44 per cent.

 

 

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