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TODAY'S OTHER NEWS

NatWest cuts residential intermediary mortgage rates

NatWest Intermediary Solutions is reducing rates on a number of higher-LTV residential mortgages in its broker portfolio from today.

It will also be making some small increases to rates on its lower LTV deals and launching a new two-year tracker rate mortgage.

The biggest rate reductions are being introduced to its 90% LTV deals with its two-year fixed rate deals being cut by 34bps to 2.76% (£995 product fee) and 49bps to 3.25% (no product fee).

Its three-year fixed rate deals come down 37bps to 3.31% (£995 product fee) and 37bps to 3.78% (no product fee).

And its five-year fixed rate mortgages fall by 13 bps to 3.60% (£995 product fee) and 42bps to 3.93% (no product fee). 

The new two-year tracker will offer an initial rate of 1.78% for a max LTV of 75%.

Paul Kane, acting head of sales, NatWest Intermediary Solutions said: “We regularly review our intermediary range of products to ensure that we offer a balanced and competitive portfolio.

“The rate reductions on our higher LTV mortgages should provide brokers with a better choice to offer their customers with smaller deposits.”

Rate changes summary:

Residential – purchase and remortgage

Two-year fixed rate deals

£995 product fee:

60% LTV increasing by 4bps from 1.59% to 1.63%

70% LTV increasing by 10bps from 1.73% to 1.83%

75% LTV increasing by 9bps from 1.79% to 1.88%

80% LTV decreasing by 14bps from 2.13% to 1.99%

85% LTV decreasing by 34bps from 2.43% to 2.09%

90% LTV decreasing by 34bps from 3.10% to 2.76%

£0 product fee:

75% LTV decreasing by 3bps from 2.51% to 2.48%

85% LTV decreasing by 25bps from 2.93% to 2.68%

90% LTV decreasing by 49bps from 3.74% to 3.25%

Three-year fixed rate deals

£995 product fee:

60% LTV increasing by 5bps from 1.99% to 2.04%

70% LTV increasing by 7bps from 2.18% to 2.25%

80% LTV decreasing by 5bps from 2.48% to 2.43%

85% LTV decreasing by 30bps from 3.13% to 2.83%

90% LTV decreasing by 37bps from 3.68% to 3.31%

£0 product fee:

70% LTV increasing by 14bps from 2.62% to 2.76%

85% LTV decreasing by 11bps from 3.49% to 3.38%

90% LTV decreasing by 37bps from 4.15% to 3.78%

Five-year fixed rate deals

£995 product fee:

60% LTV increasing by 5bps from 2.34% to 2.39%

70% LTV increasing by 10bps from 2.58% to 2.68%

75% LTV increasing by 5bps from 2.78% to 2.83%

80% LTV decreasing by 23bps from 3.12% to 2.89%

85% LTV decreasing by 31bps from 3.54% to 3.23%

90% LTV decreasing by 13bps from 3.73% to 3.60%

£0 product fee:

75% LTV increasing by 14bps from 3.15% to 3.29%

85% LTV decreasing by 31bps from 3.74% to 3.43%

90% LTV decreasing by 42bps from 4.35% to 3.93%

Two-year tracker deals

£995 product fee:

60% LTV increasing by 4bps from 1.49% to 1.53%

70% LTV increasing by 10bps from 1.63% to 1.73%

NEW 75% LTV 1.78%

Help to Buy – shared equity scheme

Two-year fixed rate deal

75% LTV decreasing by 3bps from 2.51% to 2.48%

Five-year fixed rate deal

75% LTV increasing by 14bps from 3.15% to 3.29%

Help to Buy – mortgage guarantee scheme

Two-year fixed rate deal

95% LTV decreasing by 13bps from 4.37% to 4.24%

Five-year fixed rate deal

95% LTV increasing by 5bps from 4.94% to 4.89%

Residential – First-time buyer purchase only

Two-year fixed rate deals

£0 product fee:

80% LTV increasing by 20bps from 2.29% to 2.49%

85% LTV decreasing by 11bps from 2.74% to 2.63%

90% LTV decreasing by 45bps from 3.64% to 3.19%

Five-year fixed rate deals

£0 product fee:

80% LTV increasing by 5bps from 3.25% to 3.30%

85% LTV decreasing by 25bps from 3.64% to 3.39%

90% LTV decreasing by 36bps from 4.25% to 3.89%

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