Natwest has increased its mortgage standard variable rate (SVR) in light of the changing Bank of England base rate.
A number of lenders announced there would be rate changes after the base rate rose from its record low of 0.1 per cent to 0.25 per cent last month.
Changes will apply to new borrowers from 17 January. Residential mortgage deals will have an SVR of 3.74 per cent, while buy-to-let borrowers will have a rate of 4.24 per cent.
These represent increases of 0.15 per cent, in line with the base rate change.
Existing Natwest mortgage customers on an SVR will see their rate increase from 1 February, similar to other lenders such as Santander and Nationwide whose rates will rise in the next month.
Customers on a fixed rate deal or those pending completion will move onto the new SVR at the end of their product term.
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
