NatWest Intermediary Solutions is cutting rates on most purchase mortgages and remortgages in its intermediary core range from today.
It is cutting rates on a range of first-time buyer, fixed rate, tracker and buy-to-let deals, across all LTV bands from 60% to 90%. It is also removing product fees on a selection of buy-to-let mortgages.
NatWest is also launching a new five-year fixed rate at 3.19% to 70% LTV, with a £995 product fee.
The lender's higher-LTV residential products will see the most significant rate cuts. The highlight is a 0.64% drop in its two year fixed rate 85% LTV no product fee deal to 3.75%.
It also announced a 0.24% reduction in its three-year fixed rate 85% LTV deals to 3.75% with a £995 product fee, and 4.35% with no product fee.
NatWest has also reduced the fee on its sub-2% two-year fixed rate 60% LTV deal by £500, which now offers a rate of 1.94% with a £995 product fee.
First-time buyer rate reductions:
Two-year fixed rate is decreasing to 3.19% from 3.49%, 80% LTV, no product fee
Two-year fixed rate is decreasing to 3.55% from 3.79%, 85% LTV, no product fee
Five-year fixed rate is decreasing to 3.79% from 3.89%, 80% LTV, no product fee
Five-year fixed rate is decreasing to 4.39% from 4.49%, 85% LTV, no product fee
Buy-to-let rate reductions and product fee changes:
Two-year fixed rate is decreasing to 2.99% from 3.39%, 60% LTV, £1,495 product fee
Two-year fixed rate is decreasing to 3.59% from 3.79%, 60% LTV, removing the £495 product fee
Two-year fixed rate is decreasing to 3.49% from 3.79%, 75% LTV, £1,495 product fee
Two-year tracker is decreasing to 2.89% from 3.39%, 60% LTV, £1,495 product fee
Two-year tracker is decreasing to 3.49% from 3.65%, 60% LTV, removing the £495 product fee
Two-year tracker is decreasing to 3.35% from 3.59%, 75% LTV, £1,495 product fee
Mark Bullard, head of sales at NatWest Intermediary Solutions said: “The changes provide better value to brokers’ residential clients across nearly every LTV banding.
"We are also bolstering our buy-to-let proposition by sharpening some of the rates and removing those deals that have a £495 product fee so that intermediaries have a choice of lower rate/product fee or higher rate/no product fee deals to offer their clients.”
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