Natwest has increased the rate of its two-year tracker mortgage by 0.25 per cent, to reflect the higher Bank of England base rate.
From 20 December, the 75 per cent loan to value (LTV) product will have a rate of 1.04 per cent.
Natwest is among the many lenders who said there would be changes to their tracker mortgage rates and standard variable rates (SVR) after the Bank of England increased the base rate from its record low of 0.10 per cent to 0.25 per cent.
This was the first increase to the base rate in three years.
Virgin Money
Virgin Money has also made changes to its tracker mortgages in light of the base rate change.
The two-year tracker with no valuation or legal fees is now priced at 1.89 per cent at 65 per cent LTV, the 75 per cent LTV has a rate of 3.04 per cent and the 85 per cent LTV deal is priced at 3.84 per cent.
The product transfer range which allows borrowers to transfer to a fixed rate deal with Virgin Money at any time without incurring fees has also increased.
At 65 per cent LTV, the two-year tracker has a rate of 1.9 per cent while at 95 per cent LTV the equivalent has a rate of 3.4 per cent.
These rates apply from today.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
