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Natwest launches low LTV tracker and green mortgages alongside widespread rate reductions

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  • 21/06/2021
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Natwest launches low LTV tracker and green mortgages alongside widespread rate reductions
Natwest will launch six new low loan to value (LTV) tracker products, reintroduce its green mortgage range and has made a range of rate reductions, effective from tomorrow.

The lender will introduce three purchase and three remortgage low LTV tracker products at 60 per cent LTV, 70 per cent LTV and 75 per cent LTV.

The tracker products have a rate of 0.98 per cent for 60 per cent LTV, which also has a cashback of £250, whilst the 70 and 75 per cent LTV products have a rate of 1.05 per cent. All the above products have a product fee of £995.

The lender’s green mortgage range includes a two and five-year fixed purchase product available between 60 per cent LTV and 85 per cent LTV.

Its two-year fixed 60 per cent LTV green mortgage purchase product has a rate of 1.01 per cent, whilst it 75 and 85 per cent LTV have a rate of 1.2 per cent and 2.21 per cent respectively. The products have a cashback of £250 and product fee of £995.

On the five-year fixed side, its 60 per cent LTV product has a rate of 1.13 per cent, and its 75 per cent LTV and 85 per cent LTV have a rate of 1.39 per cent and 2.52 per cent. The products have a cashback of £250 and product fee of £995.

 

Rate cuts

 

The lender has made a range of rate reductions across its purchase, remortgage, first-time buyer, shared equity, Help to Buy shared equity, mortgage guarantee scheme and buy-to-let (BTL) remortgage products.

For purchase products, its two and five-year fixed product rates have been cut. One example includes its two year-fixed rate purchase product at 90 per cent LTV, which has fallen from 3.19 per cent to 2.97 per cent. It has no product fee and cashback of £250.

On the remortgage side the rates for its two and five-year fixed have been reduced, with the rate for its two-year fixed at 85 per cent LTV going from 2.42 per cent to 2.32 per cent. It is subject to a product fee of £995.

 

Low deposit loans

 

Two and five-year fixed first time buyer products have also decreased, with its two-year fixed at 85 per cent LTV being cut from 2.36 per cent to 2.21 per cent. Its five-year fixed at 85 per cent LTV will fall from 2.7 per cent to 2.52 per cent.

The lender has cut rates on select shared equity and Help to Buy shared equity purchase products with rates on two-year fixed at 60 per cent LTV reducing by 0.31 per cent to 1.74 per cent.

Natwest’s rate for its mortgage guarantee product, which is 95 per cent LTV, has been cut by 0.03 per cent to 3.86 per cent.

Select buy-to-let two-year fixed remortgage products at 70 and 75 per cent LTV have been cut by 0.03 per cent from 1.84 per cent to 1.81 per cent. Both are subject to a product fee of £995.

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