Natwest’s new rates come into effect effective immediately and pipeline applications submitted prior to the change are unaffected, according to the lender.
Rates in its new business range have been increased by 0.35 per cent across the board.
This includes its new business residential core range, two and five-year fixed purchase and remortgage products between 60 and 90 per cent loan to value (LTV) have risen by 0.35 per cent.
Its two-year fixed purchase rate at 60 per cent LTV has moved from 5.62 per cent to 5.97 per cent and its five-year fixed rate at the same LTV has increased from 5.39 to 5.74 per cent. Both come with a £999 fee.
On the first-time buyer side, two and five-year fixed rate purchase and remortgage products between 85 and 90 per cent LTV have increased by 0.35 per cent.
Its two-year fixed rate at 85 per cent LTV has gone from 5.79 per cent to 6.14 per cent and the five-year fixed rate at the same LTV has increased from 5.29 per cent to 5.64 per cent. Both come with £995 product fee and £250 cashback.
In its shared equity range, products from 60 per cent LTV to 75 per cent LTV have been changed. Its two-year fixed rate at 60 per cent LTV has risen to 5.97 per cent and comes with £995 product fee and £250 cashback.
Help to Buy purchase and remortgage products between 60 and 75 per cent LTV, both on two and five-year fixed rate terms, have risen by 0.35 per cent. Two-year fixed rates start from 6.2 per cent for two-year fixed rates and 5.74 per cent for five-year fixed rates.
Mortgage guarantee products begin from 6.5 per cent and 6.05 per cent for two and five-year fixed rates respectively. They come with no product fees and £750 cashback.
On the buy-to-let side, two-year fixed rates begin from 6.07 per cent for two-year fixed purchase rate at 60 per cent LTV and 5.84 per cent for five-year fixed purchase rat at the same LTV.
Two-year fixed rate buy-to-let remortgages at 60 per cent LTV start from 6.07 per cent and for five-year fixed rate remortgages begin from 5.54 per cent at the same LTV tier.
Green mortgages, both purchase and remortgage on two and five-year fixed rate terms, between 60 and 85 per cent LTV have gone up. Buy-to-let green mortgages have also been increased.
Pricing starts from 5.92 per cent for a two-year fixed rate purchase at 60 per cent LTV and 5.44 per cent for its five-year equivalent. Both come with a £995 product fee.
Natwest existing customer changes
In its existing customer range, switcher products, including high value switcher products, have gone up by as much as 0.75 per cent between 60 and 90 per cent LTV.
Examples include its two-year fixed rate switcher high-value product at 60 per cent LTV going from 4.81 per cent to 5.56 per cent. It is subject to a £1,495 fee.
Its two-year switcher product at 60 per cent LTV has increased by 0.71 per cent to 5.74 per cent and comes with a £495 product fee.
Natwest’s fee-free five-year fixed rate switch at 60 per cent LTV has increased from 4.79 per cent to 5.49 per cent, and its high value iteration has increased to 5.18 per cent. The latter has a product fee of £1,495.
On the buy-to-let side, two and five-year fixed rates between 60 and 90 per cent LTV have gone up by as much as 0.7 per cent.
Its fee-free two-year fixed rate switcher at 60 per cent LTV has increased from 5.29 per cent to 5.89 per cent, and its five-year equivalent has risen from 4.84 per cent to 5.49 per cent.
Halifax changes
Halifax has upped rates across its remortgage, homebuyer, first-time buyer and affordable housing ranges.
The lender’s two-year fee-free homebuyer fixed deals now start at 6.19 per cent for 60 per cent loan to value (LTV) and go up to 6.59 per cent for 95 per cent LTV.
Five-year equivalents start at 5.74 per cent and go up to 6.15 per cent.
The changes have taken effect today.
