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Natwest increases new business rates; TSB cuts pricing – round-up

  • 13/10/2021
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Natwest increases new business rates; TSB cuts pricing – round-up
Natwest has increased rates on its new business range by 0.05 per cent.


The change has eliminated some of the sub-one per cent deals the bank was offering such as the five-year fixed rates at 60 per cent loan to value (LTV) with a £995 fee.  

The purchase and remortgage deals are now priced at 1.03 per cent each, up from 0.98 per cent. 

The two-year fixed remortgage product at 60 per cent LTV with a £995 fee and £150 cashback now has a rate of 0.93 per cent. The purchase equivalent is now sat at 0.98 per cent. 

Rates now vary between 0.93 per cent and 1.48 per cent. Changes will be effective from tomorrow and brokers have until 10.30pm tonight to produce mortgage illustrations for existing deals. 


TSB makes rate cuts 

TSB has reduced rates on its residential range by up to one per cent. 

The headline reduction has been made to its fee-free five-year fixed remortgage product at 75-80 per cent LTV. This now has a rate of 2.24 per cent. 

Other significant cuts include the alternative at 60-75 per cent LTV, which has been reduced by 0.8 per cent to 1.64 per cent. 

The bank has also withdrawn and repriced its three and five-year fixed mortgages with respective early repayment charges (ERCs) of two and three years. These have fees of £995 and are available for first-time buyers, house purchase and remortgage.  

TSB has introduced 10-year fixes with ERCs for the fixed rate term and equivalents with five year ERCs. 

The bank has also launched two and five-year fixed shared ownership products for first-time buyers and home buyers at 85-90 per cent LTV. This includes a two-year fixed deal with a rate of 2.79 per cent and a five-year fixed product at 3.34 per cent. 


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