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Natwest ups select rates; Hanley BS revamps shared ownership offering – round-up

  • 08/02/2024
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Natwest ups select rates; Hanley BS revamps shared ownership offering – round-up
Natwest is increasing select rates for new and existing borrowers by up to 0.11 per cent.

This includes its two-year fixed purchase deal for new borrowers at 90 per cent loan to value (LTV), which is rising from 4.94 per cent to 4.99 per cent. This has a £995 fee. 

The bank is also increasing two-year fixed remortgage rates for new borrowers by 0.05 per cent for a 60 per cent LTV with a £1,495 fee to 4.49 per cent. At the same tier, the option with a £995 fee and £250 cashback has gone up by the same amount to 4.54 per cent. 

The rate of the fee-free two-year fixed purchase mortgage at 60 per cent LTV has been increased from 4.74 per cent to 4.84 per cent. 

Rates have also gone up across the corresponding mortgages at 75 per cent LTV, and Natwest has increased pricing on its five-year fixed purchase product at 90 per cent LTV from 4.48 per cent to 4.59 per cent. This product has a £995 fee. 

Additionally, the lender has increased rates across five-year fixed remortgage, first-time buyer, green and Help to Buy shared equity products for new borrowers. 

For existing borrowers, rates have increased on two- and five-year fixed switcher products at 60 and 75 per cent LTV. 


Hanley refreshes shared ownership range 

Hanley Economic Building Society has added a three-year fix to its shared ownership range and reduced the rate of its medium-term product by 0.6 per cent. 

The three-year fix is available up to 95 per cent LTV and has a rate of 5.65 per cent. 

Its medium-term product, which matures in November 2028, has a rate of 5.2 per cent down from 5.8 per cent. This is available up to 95 per cent LTV. 

The products are available for either purchase or remortgage, have no application or arrangement fee and offer a free standard valuation. 

David Lownds, head of products and marketing at Hanley Economic Building Society, said: “2024 has started with a constant stream of enquiries from a variety of first-time buyers who are now more aware of the interest rate landscape, their own borrowing capabilities and their options.  

“Shared ownership is playing an increasingly prominent role within many of these conversations, meaning it’s vital that we – as a lending community, alongside our intermediary partners – ensure that borrowers can access a range of competitive options in a responsible, appropriate and well-informed manner.” 

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