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Natwest raises rates on new and existing borrower products

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  • 02/08/2022
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Natwest has upped the rates on its mortgage products for new and existing borrowers by as much as 0.33 per cent.

The largest increase has been made to the two-year fixed buy to let product switcher deal at 90 per cent loan to value (LTV) which now has a rate of 4.09 per cent up from 3.76 per cent. 

The two-year fixed product switcher at 60 per cent LTV with a £995 fee has gone up by four basis points to 3.3 per cent while the fee-free option has risen by 10 basis points to 3.64 per cent. 

Five-year fixed equivalents start from 3.39 per cent for a 60 per cent LTV with a £995 fee. At 75 per cent LTV, the rate has gone up from 3.64 per cent to 3.74 per cent with no fee. 

For residential borrowers switching rates, pricing has increased by as much as 25 basis points. Changes apply to the two and five-year fixed deals for standard and high value borrowers up to 90 per cent LTV. 

For new borrowers, two-year fixed purchase and remortgage rates have gone up by as much as 0.20 per cent across 60 to 90 per cent LTV tiers. 

The 60 per cent LTV purchase product with no fee has gone up from 3.55 per cent to 3.69 per cent. The remortgage option has risen to 3.59 per cent. The fee-paying deals at the same tier have rates of 3.44 per cent and and 3.29 per cent, representing increases of nine and four basis points respectively.

The 90 per cent LTV purchase deal with a £995 fee has increased to 3.59 per cent and the remortgage equivalent has risen to 3.54 per cent. 

Five-year fixed remortgages have also risen by as much as 10 basis points across 60 to 90 per cent LTV tiers. 

For first-time buyers, the two-year fixed product at 85 per cent LTV has increased by 0.15 per cent to 3.69 per cent and the 90 per cent LTV deal has risen by 0.16 per cent to 3.74 per cent. These have product fees of £995 and offer £1,000 cashback. 

The bank has also increased rates on two and five-year fixed shared equity and Help to Buy mortgages for purchase and remortgage. Changes apply from 3 August. 

 

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