NatWest has launched new high value remortgage rates for new and existing customers who have a mortgage of £500,000 and over.

Until today the bank has based all products on LTV; however is has now introduced 12 new products that are being priced according to loan balance and LTV.

It is relaunching 12 products from its existing range at the same rate, with a different product code and maximum loan size of £499,999. It is also offering 12 new high value rates, for loan sizes of £500,000 and above.

NatWest claims that the launch of new products for remortgage and product switchers is the first step towards offering tailored customer pricing.

Mark Bullard, NatWest’s head of sales, said: “We recognise there is an element of a product gap in our portfolio for this particular type of customer, and by introducing these new products, this is what we are trying to do to fulfil that. By considering both term and LTV, this enables us to construct a product that is viable.”