NatWest is making rate reductions on selected core and semi-exclusive residential and buy-to-let products tomorrow (30 April).
These include reductions of up to 147bps on buy-to-let deals and up to 90bps on residential purchase products.
Changes are as follows:
New Business
- Core Range
- Residential: Rate reductions of 25-90bps, with £250 cash back introduced on selected products.
- Buy-to-let: Rate reductions of 53-147bps, with fees reduced from £1,995 to £995.
- Shared Equity: rate reductions and cash back introduced
- 2 Year Fee Based: Rate reductions of 19-27bps and £250 cash back introduced.
- 5 Year Fee Based: Rate reductions of 8-20bps.
- Intermediary Exclusives
- Rate reductions and new purchase products.
- Remortgage: Rate reductions of 1-2 bps on 5 year 60-85% LTV products.
- Purchase: Launch 2 year 60-90% LTV products, with £250 cash back and free property valuation; and reduce pricing on the 2 year 95% LTV product by 1bps.
- Base Rate Trackers: BRT pricing set 10bps below the equivalent fixed rate product
Mark Bullard, head of sales, said: “We have taken this opportunity to review our proposition to ensure it is in line with current market conditions. We are delighted to be introducing some significant rate reductions particularly amongst our shared equity offering and also across our product portfolio, which we believe further emphasises our commitment to the broker market.
“As a responsible lender, we have been able to make these changes whilst ensuring that we maintain our risk appetite and the quality of business we accept.”
