NatWest is introducing rate decreases for products across its Core and Semi-Exclusive ranges for new customers on Tuesday 30 June.
The changes also include reductions to cashback across its two and five-year remortgage ranges, as well as a withdrawal of selected Semi-Exclusive remortgage products.
Mark Bullard, head of sales at NatWest, said: “We’re delighted to be making our third tranche of rate reductions this month. In particular we have sharpened up our offering to new business customers, especially those looking at Help to Buy or to purchase their new home.”
The changes are as follows:
New Business
Intermediary Exclusives – Rate changes/Withdrawals:
- Purchase: Rate reductions of up to 4bps on selected 2 year deals and 8bps on selected 5 year deals
- Help to Buy Shared Equity Remortgage: Rate reductions of up to 25bps both on selected 2 and 5 year deals
- Remortgage – Withdrawals: Withdrawal of one 80% LTV 2 year product and also on selected 70%, 75% and 80% LTV 5 year products
Core Range – Rate Changes:
- Purchase: Rate reductions of up to 4bps on selected 2 year deals and 8bps on selected 5 year deals.
- Shared Equity Purchase: Rate reductions of up to 10bps on selected 2 year deals and 24bps on selected 5 year deals.
- Help to Buy Shared Equity Purchase: Rate reductions of up to 10bps on selected 2 year deals and 24bps on selected 5 year deals.
- Remortgage – High Value: Rate reduction of 1bps on 60% LTV 5 year deal
- Help to Buy Shared Equity Remortgage: Rate reductions of up to 25bps both on selected 2 and 5 year deals
Core Range – Rate Changes and cashback reductions
- Remortgage: Rate reductions of up to 11bps on selected 2 years deals and up to 7bps on selected 5 year deals, alongside a reduction of cashback from £250 to £0.
- Remortgage – High Value: Rate reduction of 10bps on 70% LTV 2 year deal
Existing Customers:
- Product Switchers – Additional borrowing: In line with new business, NatWest will be limiting applications for additional borrowing as part of a product switch to 80% LTV, i.e. the combined product switch and additional borrowing must not be greater than 80% LTV.
