NatWest Intermediary Solutions has broadened its product offering for those who are directly authorised (DA).
It is expanding the number of brokers that can access its corporate range by opening it up to a number of DA firms and it is introducing several new deals to its core range.
It is also reducing rates on a number of products in its corporate range.
In March, NatWest Intermediary Solutions announced that its corporate range of mortgages would be available only to a panel of selected AR firms but that it would continue to monitor the situation and consider widening access to its product ranges in the future. Following a review, around 200 DA firms representing in the region of 1,000 individual brokers will now have access to the corporate range. Those firms that will have access have been informed.
Mark Bullard, head of sales, NatWest Intermediary Solutions, said: “We are operating in a rapidly changing market and have to make sure that we are able to manage and control the volume and mix of business we receive to preserve our service standards. We pledged to review the situation and, whilst we continue to take a measured approach, we are pleased to be able to widen access to our corporate range to a sizeable chunk of the DA market.
“We will continue to monitor the situation with a view to making the corporate range accessible to more intermediary firms. In the meantime, by introducing some new deals to our core range, those DAs and ARs who do not currently have access to the corporate range will also have a greater choice of products.”
The DA firms that have access to the corporate range will need to submit applications via the NatWest Intermediary Solutions web site, as the products are not currently available on sourcing systems.
The new deals being introduced to the core range, which is accessible to all intermediaries, are:
Two-year fixed rate, 60% LTV, purchase mortgage, initial rate of 3.59% and a £999 fee.
Two-year fixed rate, 60% LTV, remortgage, initial rate of 3.65% and a £999 fee.
Two-year fixed rate, 75% LTV, purchase mortgage, initial rate of 3.89% and a £999 fee.
Two-year fixed rate, 75% LTV, remortgage, initial rate of 3.95% and a £999 fee.
Two-year fixed rate, 75% LTV, purchase and remortgage, initial rate of 4.09% and £499 fee, capped at £100,000.
Rates have been reduced by 0.10 percentage points on several deals in the corporate range:
Two-year fixed rate, 60% LTV, purchase mortgage has decreased to 3.49%.
Two-year fixed rate, 60% LTV, remortgage has decreased by to 3.55%.
Two-year fixed rate, 75% LTV, purchase mortgage has decreased to 3.79%.
Two-year fixed rate, 75% LTV, remortgage has decreased to 3.85%.