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Natwest reduces new and existing customer rates; TMW slashes prices ‒ round-up

Anna Sagar
Written By:
Posted:
September 27, 2023
Updated:
September 27, 2023

Natwest will lower rates in its new and existing customer ranges by up to 0.29 per cent for select deals from tomorrow.

On the new business side, selected two-year purchase rates will fall by up to 0.21 per cent and up to 0.22 per cent for select five-year purchase deals.

Two-year remortgage rates will fall by up to 0.17 per cent and five-year deals will be cut by around 0.24 per cent.

In its first-time buyer range, rate cuts of up to 0.25 per cent and 0.22 per cent on selected two and five-year deals will be applied.

Two-year shared equity purchase deals will fall by up to 0.22 per cent and five-year deals will decrease by 0.1 per cent.

Help to Buy shared equity remortgage products will fall by up to 0.15 per cent for two-year deals and 0.09 per cent for five-year deals.

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Green purchase rates will be reduced by up to 0.2 per cent for two and five-year deals, with two-year remortgage deals falling by 0.17 per cent and five-year products decreasing by around 0.16 per cent.

Natwest is bringing out 10 products on two and five-year deals from 60 to 90 per cent loan to value (LTV) with £1,495 fee.

The lender is adding 20 deals across two and five-year deals with £1,495 fee from 60 to 90 per cent LTV.

Within its existing customer range, two-year switcher deals are falling by up to 0.29 per cent and five-year deals are going down by up to 0.24 per cent.

Two-year buy-to-let switcher products will fall by up to 0.2 per cent and five-year deals will decrease by around 0.16 per cent.

TMW reduces limited company and HMO rates

The Mortgage Works (TMW) will be reducing rates by up to 0.4 per cent across its limited company and houses in multiple occupation (HMO) range for new business products from Thursday 28 September 2023.

Examples include its new business limited company five-year fixed rate at 70 per cent LTV with five per cent fee falling by 0.05 per cent to 5.44 per cent.

Its five-year fixed rate at 75 per cent LTV with a three per cent fee has decreased by 0.3 per cent to 5.69 per cent.

The lender’s five-year fixed rate up to 75 per cent LTV with a £1,495 fee has gone down by 0.25 per cent to 6.24 per cent.

Dan Clinton, head of specialist lending at TMW, said: “We continually look to support landlords with competitive products. The swap rate environment has been gradually improving enabling us to reduce rates further.

“These reductions will be welcomed by buy-to-let investors as we work to support them with their cashflow and help unlock affordability constraints.”