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Natwest increases rates; Virgin Money withdraws exclusive deals – round-up

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  • 15/06/2022
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Natwest increases rates; Virgin Money withdraws exclusive deals – round-up
Natwest has increased rates on its residential mortgages by up to 0.27 per cent, while Virgin Money has withdrawn all exclusive fixed rates.

Natwest has increased rates on its two and five-year fixed-rate residential and buy to let (BTL) products.

Changes include a 0.18 per cent increase to its two-year fix purchase product with a £995 fee at 60 per cent loan to value (LTV), where the rate has risen from 2.64 per cent to 2.82 per cent.

At 85 per cent LTV, the two-year fixed purchase deal with no fee will increase from 3.01 per cent to 3.19 per cent, and at 90 per cent LTV the equivalent will rise by 0.2 per cent to 3.24 per cent.

Changes to Natwest’s five-year fixed rate purchase products include the 60 per cent LTV with no fee which increases by 0.19 per cent to 3.16 per cent, and on 90 per cent LTV, also with no product fee, a rise from 3.09 per cent to 3.25 per cent. 

BTL products where rates have increased include Natwest’s two-year fixed rate purchase 60 per cent LTV deal with a £995 fee, which was 2.69 per cent and is now 2.87 per cent. The two-year fix at 75 per cent LTV with a £1,495 fee has increased by 0.19 per cent to 2.63 per cent. 

On its five-year fixed BTL purchase product at 75 per cent LTV, with a fee of £1,495, the rate has increased by 0.19 per cent to 2.78 per cent.

Rate changes on its green mortgages include two-year fixed purchase product at 85 per cent LTV, which increases by 0.2 per cent to 2.85 per cent. This has a product fee of £995.

The two-year fixed green remortgage at 75 per cent LTV with a £995 fee has seen the rate has increase by 0.27 per cent to 2.74 per cent.

 

Virgin Money

Virgin Money said all exclusive fixed rates will be withdrawn at 8pm on 15 June.

The lender has also increased all fixed term fee-saver products by 0.20 per cent, with the exception of its 65 per cent LTV two, three and five-year fixed fee-saver deals which will increase by 0.10 per cent.

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