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Natwest hikes rates by 45 bps; TSB ups reversion rates – round-up

  • 04/04/2022
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Natwest hikes rates by 45 bps; TSB ups reversion rates – round-up
Natwest has increased rates by as much as 0.45 per cent across selected products for new and existing borrowers.

The mortgages to see the largest rate hikes include a two-year fixed purchase product at 75 per cent loan to value (LTV) with a £999 fee and £250 cashback, and the five-year equivalent. These now have rates of 2.45 per cent and 2.49 per cent respectively. 

The comparable products at 60 per cent LTV have gone up by 0.40 per cent each to 2.4 and 2.44 per cent respectively. 

Borrowers getting a mortgage for Help to Buy will also see rates rise by 40 basis points (bps) at 60 per cent LTV and 45 bps at 75 per cent LTV. These apply to purchase and remortgage products. 

Buy-to-let mortgages have received lesser increases of up to 0.11 per cent. These changes have been made to two and five-year fixes, both for purchase and remortgage, at 60 and 75 per cent LTV. 

The most significant change has been made to the five-year fixed buy-to-let remortgage at 75 per cent LTV, which has gone up from 2.43 per cent to 2.54 per cent. 

Rates on green purchase and remortgage products for both residential and buy-to-let borrowers have gone up by as much as 43 bps for two and five-year fixes between 60 and 85 per cent LTV. 

For existing borrowers, rates have increased by up to 0.30 per cent. 

This includes two and five-year switcher products for residential and buy-to-let borrowers, between 60 and 90 per cent LTV. 

Mortgage brokers can submit mortgage illustrations and online applications until 10.30pm tonight. 


TSB raises reversion rates 

TSB has increased the reversion rate for residential borrowers to 4.24 per cent and to 5.09 per cent for buy-to-let customers. It said this change was in light of the base rate going up.

The bank has also relaunched two and five-year fixed products across shared ownership, purchase and remortgage ranges. 

These changes came into effect today. 

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