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Natwest lifts rates by up to 75bps

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  • 17/10/2022
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Natwest lifts rates by up to 75bps
Natwest has increased mortgage rates for new and existing borrowers by as much as 75 basis points (bps).

Changes apply to two and five-year fixes between 60 per cent loan to value (LTV) and 90 per cent LTV. 

Two-year fixed purchase and remortgage products for new borrowers will see a 0.40 per cent rise in pricing starting at 6.37 per cent for a purchase deal at 60 per cent LTV with a £995 fee. This goes up to 6.74 per cent for the equivalent product at 90 per cent LTV. 

For remortgages, the 60 per cent two-year fix with a £995 fee also has a rate of 6.37 per cent, rising to 6.74 per cent at 90 per cent LTV with no fee. 

Five-year fixes for purchase and remortgage have gone up by 0.75 per cent at the same lending tiers, beginning at 6.24 per cent for a 60 per cent LTV deal with a £995 fee. This rises to 6.64 per cent for a fee-free product at 90 per cent LTV. 

Rates on two-year fixes for first-time buyers and shared equity mortgages at 85 and 90 per cent LTV have increased by 0.40 per cent, while equivalent five-year fixes have risen by 0.75 per cent. 

Mortgage guarantee, buy-to-let and green mortgage rates for new borrowers have also increased. 

Existing borrowers switching rates will see pricing rise by as much as 0.75 per cent. 

Mortgage brokers have until 10pm on 17 October to produce mortgage illustrations and submit online applications. 

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