NatWest cuts product rates and TSB pulls high-fee mortgages

NatWest cuts product rates and TSB pulls high-fee mortgages

 

The product to see the largest cut was the fee-free five-year fix at 60 per cent loan to value (LTV) which went down to 1.59 per cent from 1.93 per cent.  

Other significant reductions include its two-year fixed purchase products at 70 and 75 per cent LTV which were both cut from 2.18 per cent to 1.85 per cent. 

The 60 per cent LTV alternative has been reduced to 1.52 per cent from 1.78 per cent. 

Two-year fixed remortgages at 60 per cent LTV for both standard and high value borrowers have been cut by five bps. 

Its five-year fixed purchase mortgages have had £250 cashback added as well as rate cuts. 

These include the 60 per cent LTV product with a £995 fee which saw a reduction of 0.01 per cent to 1.27 per cent. The product at 90 per cent LTV, also with a £995 fee saw the same reduction to 3.38 per cent. 

The fee-free 70 and 75 per cent LTV five-year fixes both received rate cuts of 24 bps to 1.95 per cent. 

NatWest has also increased rates for switching customers by as much as 25 bps.  

The two-year fixed product switch at 90 per cent LTV has gone up to 3.29 per cent, from 3.18 per cent, while the £995 fee-paying option has increased to 3.09 per cent from 2.84 per cent. 

 

TSB product changes 

TSB has also made changes to its mortgage range. 

This includes a 0.05 per cent reduction on rates across two-year fixed remortgages up to 75 per cent LTV with a £1,495 fee. 

Elsewhere, the bank has withdrawn its two and five-year fixed purchase and remortgage products with a £1,995 fee and five years’ early repayment charges. 

Its fee-free, £995 and £1,495 fee-paying equivalent products remain.