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Natwest withdraws tracker products; TMW cuts rates – round-up

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  • 10/11/2022
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Natwest withdraws tracker products; TMW cuts rates – round-up
Natwest will withdraw its tracker product range from tomorrow, for both new and existing customers.

The lender said it was its intention to reintroduce these products in due course.

On the new business side, the lender has withdrawn 10 two-year tracker purchase products including both fee-free and fee versions.

Around 10 two-year tracker rate remortgage products have also been removed, both with fee-free and fee versions.

On the existing customer side, around 10 two-year tracker rate switcher products have been taken down. This includes both fee and fee-free versions.

All these products were available between 60 and 90 per cent loan to value (LTV).

Brokers can submit applications for existing deals up to 10:30pm on 10 November, and mortgage illustrations will be able to be produced until then.

 

TMW lowers select BTL and limited company products

The Mortgage Works (TMW) will cut select fixed buy-to-let and limited company buy-to-let rates by up to 0.95 per cent and has added two-year tracker products.

Buy-to-let products include a one-year fixed rate up to 75 per cent LTV priced at 3.99 per cent. It comes with a two per cent fee.

There is also a two-year fixed rate up to 65 per cent LTV with a rate of 4.39 per cent. Its comes with a three per cent fee.

The range also includes a five-year fixed rate at 4.89 per cent with a three per cent fee available up to 65 per cent LTV.

Its two-year tracker product is available up to 65 per cent LTV with a rate of 3.24 per cent. It has a three per cent fee.

On the limited company side, there is a one-year fixed rate up to 75 per cent LTV with a 4.74 per cent and two per cent fee.

There is also a two-year fixed rate available up to 75 per cent LTV priced at 4.99 per cent, and a five-year fixed rate at 5.49 per cent. Both come with a three per cent fee.

Its two-year tracker product in the range is priced at 3.49 per cent and is available up to 75 per cent LTV and three per cent fee.

All the products are available for purchase and remortgage, and other rate and fee combinations are available.

TMW tracker products come with a switch to fix facility, so customers can switch to an existing customer fixed rate at any time with no early repayment charges.

Daniel Clinton, TMW’s head, said: “As one of the largest buy-to-let lenders in the UK, we are continually looking at ways we can support landlords by offering them a wide range of options.

“These latest reductions to our fixed rates will help those who want to maximise cashflow while maintaining certainty over their repayments.”

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