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NatWest lowers rates; TSB reduces BTL stress rate – round-up

NatWest has decreased rates in its new business range, including residential and shared equity deals by up to 0.15%.
In its core residential range for new business, purchase and remortgage, deals on two- and five-year terms have been cut. This includes high-value deals.
For instance, its two-year fixed rate remortgage deal at 60% loan to value (LTV) with a £995 fee has decreased by 0.15% to 4.59% and its £1,495 fee version has been cut by 0.15% to 4.54%.
In its shared equity new business range, pricing has been cut by around 0.11%, with an example including its five-year fixed rate purchase deal that has fallen from 4.34% to 4.23%. The deal has a £995 fee and £250 cashback.
Within its Help to Buy shared equity new business range, rates have been cut by around 0.15%. An example is its two-year fixed rate remortgage, which has decreased from 4.89% to 4.74%. It has a product fee of £995 and cashback of £500.
On the green mortgage side, reductions of up to 0.15% have also been applied. Its two-year fixed rate remortgage at 60% LTV with a £995 fee has decreased from 4.69% to 4.54%.

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It is the second time this month that NatWest has lowered new business rates.
TSB cuts BTL stress rate
TSB has reduced its buy-to-let (BTL) stress rate by up to 1% and lowered the stress rate used for background BTL mortgages on residential applications from 6% to 5.5%.
For remortgages with no additional borrowing, barring residential to BTL and Let to Buy, for terms up to five years and beyond, a stress rate of higher of 5.5% or product rate plus 1% will apply.
For all other application types, including residential to BTL and Let to Buy, for products on less than a five-year term, the higher stress rate of 6.5% or a product rate plus 2% will be put in place.
On deals over five years, the higher of 5.5% or a product rate of plus 1% will be implemented.