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Natwest lowers new business rates by up to 0.17%

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  • 19/06/2024
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Natwest lowers new business rates by up to 0.17%
Natwest has cut rates in its new business range, including its core purchase and remortgage, first-time buyer, shared equity and green mortgage deals.

In Natwest’s new business core residential range, two- and five-year fixed rate purchase and remortgage products have been reduced by as much as 0.17%. This includes “high-value” purchase and remortgage products.

Changes have been applied up to 90% and 95% loan to value (LTV), depending on the term. An example includes its five-year fixed rate remortgage at 80% LTV, which has gone from 5.14% to 4.97%. The product comes with a £1,495 fee, with the option of £250 cashback.

In Natwest’s new business first-time buyer range, its two- and five-year fixed rate purchase products have been reduced by up to 0.12%. This includes its no-fee two-year fixed rate at 90% LTV with £250 cashback going from 5.8% to 5.7%.

The lender’s five-year fixed rate purchase with a £995 fee at 90% LTV has fallen from 5.04% to 4.92%. It also has £250 cashback available.

Within Natwest’s new business shared equity range, decreases of around 0.13% have been made.

The lender’s two-year fixed rate purchase product at 75% LTV with a £995 fee has decreased from 5.17% to 5.04%. It has an option for £250 cashback.

Help to Buy products have also been cut by up to 0.15%, with the largest cut taking place on its five-year fixed remortgage deal at 75% LTV, which went down from 4.92% to 4.77%. It has a £995 fee and £500 cashback.

Natwest’s new business green mortgage deals have also been reduced, with cuts of up to 0.15%.

An example includes its five-year fixed rate remortgage at 75% LTV, which fell from 4.72% to 4.57%. It has a product fee of £995 and £250 cashback.

Natwest recently improved its buy-to-let (BTL) calculator, changed its portfolio landlord assessment and added dynamic product stress rates.

Brad Fordham, head of mortgage distribution at Natwest, said that the changes would make the firm even “more reliable, consistent and flexible for their landlord customers”.

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