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Natwest and TSB rejig mortgage rates – round-up

  • 20/03/2024
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Natwest and TSB rejig mortgage rates – round-up
Natwest has increased two-year tracker rates for new borrowers by up to 0.4 per cent and lowered select mortgage rates by as much as 0.24 per cent.

The largest increase to its two-year tracker rate is the £995-fee option at 60 per cent loan to value (LTV), which has risen from 5.39 per cent to 5.79 per cent. 

Fee-free alternatives between 60 and 90 per cent LTV have been increased by as much as 0.09 per cent and range from 6.18 per cent to 6.38 per cent. 

Reductions of up to 0.24 per cent have been made across Natwest’s five-year fixed purchase and five-year fixed remortgage standard residential products. 

This includes the five-year fixed remortgage at 90 per cent LTV with no fee and £250 cashback, which has gone down by 5.54 per cent to 5.3 per cent. The option with no cashback has reduced by the same amount to 5.3 per cent as well. 

Natwest has also cut shared equity five-year fixed purchase rates by as much as 0.07 per cent, and Help to Buy five-year fixed remortgage rates by up to 0.13 per cent. 

Select five-year fixed purchase and remortgage rates for green mortgages have dropped by as much as 0.13 per cent.

No changes have been made to existing borrower rates. 

Changes to Natwest’s rates apply from 21 March.

On 19 March, it was reported that the bank had entered a partnership with the British Mortgage Awards.


TSB ups mortgage rates 

TSB has made increases to select mortgage rates, including two-, three- and five-year fixed deals, which have risen by as much as 0.25 per cent. 

For example, the two-year fixed remortgage at 60 to 75 per cent LTV is now priced at 4.94 per cent with a £995 fee or 5.34 per cent with no fee. 

Meanwhile, five-year fixed remortgage rates now begin at 4.99 per cent at 75 to 80 per cent LTV with a £995 fee or 5.19 per cent with no fee, up to 5.29 per cent at 85 to 90 per cent LTV with no fee. 

The lender’s product transfer rates, fixed for two, three or five years, have increased by up to 0.2 per cent, while additional borrowing rates on two-, three- and five-year fixes have risen by up to 0.1 per cent. 

Changes to TSB rates apply from 20 March.

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