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Natwest ups rates by as much as 1.25 per cent

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  • 11/07/2023
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Natwest ups rates by as much as 1.25 per cent
Natwest has increased its mortgage rates by as much as 1.25 per cent, with some of the largest increases made across its buy-to-let switching products.

Within its standard buy-to-let switcher range, a fee-free two-year fix at 60 per cent loan to value (LTV) has risen by 1.14 per cent to 6.54 per cent. The option with a £995 has gone up by 1.25 per cent to 6.49 per cent. 

At 75 per cent LTV, the two-year fix switcher product with no fee has risen from 5.4 per cent to 6.54 per cent, a 1.14 increase, while the option with a £995 fee has increased from 5.24 per cent to 6.49 per cent, which is a 1.25 per cent rise. 

At 90 per cent LTV, the two-year fixed switcher rate for existing buy-to-let borrowers has gone up by 1.04 per cent to 6.74 per cent. This has no fee. 

The lender has increased its five-year fixes in the same range by as much as 1.04 per cent, and this applies to options with a fee or a £995 fee at 60 and 75 per cent LTV. 

Residential borrowers who are switching rate will also see increases across two and five-year fixes, and two-year trackers by as much as 0.55 per cent. 

Rate rises of up to 0.38 per cent have been made across mortgages for new residential borrowers, and this applies to purchase, remortgage, tracker, first-time buyer and shared equity products which have two or five-year terms. 

For new buy-to-let borrowers, rates have risen by up to 0.6 per cent on standard and green mortgages. 

 

Product launches

The lender has also launched remortgage products with £250 cashback for new homeowner borrowers. 

These are all available at 75 per cent LTV, and include two and five-year fixes either with no fee or a £995 fee. 

The two-year fix with a fee has a rate of 6.44 per cent, while the fee-free option is priced at 6.69 per cent. The five-year fix with a fee has a rate of 5.99 per cent, and the option with no fee has a rate of 6.19 per cent. 

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