NatWest cuts rates and adds trackers to range

By
Kevin Rose
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0
173

NatWest is making changes to its product offering which includes rate reductions of up to 31bps, the launch of six new tracker products and the re-introduction of its Green Mortgage range.

The changes are as follows:

New Business

Core Range – New Products:

  • Tracker: Introduction of 3 purchase and 3 remortgage low LTV Tracker Products
  • Green Mortgages: Re-introduction of 2 and 5 year Green Purchase Products,

Core Range – Rate changes:

  • Purchase: Rate reductions of up to 22bps and 7bps on 2 and 5 year deals respectively
  • Remortgage: Rate reductions of up to 10bps on 2 and 5 year deals respectively
  • First Time Buyer: Rate reductions of up to 15bps and 18bps on 2 and 5 year deals respectively
  • Shared Equity – Purchase: Rate reductions of up to 31bps on selected 2 year deals
  • Help to Buy Shared Equity – Purchase: Rate reductions of up to 31bps on selected 2 year deals
  • Mortgage Guarantee Scheme: Rate reduction of 3bps on 95% LTV 5 year deal
  • Buy to Let – Remortgage: Rate reduction of 3bps on selected 2 year deals

Core Range – Rate changes and fee changes:

  • Remortgage – High Value: Rate reduction of 1bps and up to 2bps on 2 and 5 year deals respectively, with product fees reducing from £1495 to £995. Also includes a rate increase of 1bps on a 60% LTV 5 year product

Core Range – Rate Changes and Cashback Changes:

  • Remortgage: Rate reductions of up to 5bps and 3bps on 2 and 5 year deals respectively, with cashback increasing from £0 to £250. Also includes a rate reduction of 7bps on a 80% LTV 5 year product, with cashback decreasing from £250 to £0
  • Shared Equity – Purchase: Rate reductions of up to 30bps and 21bps on 2 and 5 year deals respectively, with cashback increasing up to £500
  • Help to Buy Shared Equity – Purchase: Rate reductions of up to 30bps and 21bps on 2 and 5 year deals respectively, with cashback increasing up to £500

Core Range – Fee Changes:

  • Remortgage: Product fee decreasing from £1495 to £995 on 60% LTV 2 year deal 

Core Range – Cashback Changes:

  • Remortgage: Cashback increasing from £150 to £250 on 80% LTV 2 year deals and increasing from £0 to £250 on 60% LTV 5 year deal