NatWest Intermediary Solutions is making changes to its intermediary mortgage range.
Current Account range:
A range of 80% and 90% LTV mortgages is being introduced to the current account range, which is available to mortgage applicants who have an active NatWest or RBS current account that was open on 1 July 2012 and is still open at the time the application is accepted.
The new products are all available as purchase mortgages and remortgages:
- Two-year fixed rate, 3.99% (APR 4.2% purchase/4.2% remortgage, SVR 4.0%), 80% LTV, with a £995 product fee
- Two-year fixed rate, 4.29% (APR 4.4%/4.1%, SVR 4.0%), 80% LTV, with no product fee
- Two-year fixed rate, 5.75% (APR 4.5%/4.5%, SVR 4.0%), 90% LTV, with a £995 product fee
- Five-year fixed rate, 4.59% (APR 4.5%/4.4%, SVR 4.0%), 80% LTV, with a £995 product fee
- Five-year fixed rate, 4.89% (APR 4.5%/4.5%, SVR 4.0%), 80% LTV, with no product fee
- Five-year fixed rate, 6.09% (APR 5.1%/5.1%, SVR 4.0%), 90% LTV, with a £995 product fee
- Two-year tracker, 4.29% (NatWest Bank Base Rate +3.79%) (APR 4.2%/4.1%, SVR 4.0%), 80% LTV, with no product fee
Main Bank range
The products that were previously in the current account range are being moved to the Main Bank range and a number of rate and fee changes will be made.
All the mortgages in this range have £250 cashback. The Main Bank range is available where at least one applicant has an active NatWest or RBS current account into which a minimum of £1,000 must have been paid for the last three months.
The main changes to the mortgages in this range are:
- Rate reductions: the rates on the five-year fixed rate products are reducing by 0.10 basis points
- Rate reductions: the rates on the two-year fixed rate and tracker products are reducing by up to 0.20 basis points
- Fee reduction: the fee on the five-year fixed rate, 60% LTV, purchase and remortgage is decreasing by £300 to £2,195.
- Rate increases: the rates on the three 80% LTV products have increased by up to 0.20 basis points
Core range
A number of rate and fee changes are being made in the Core range:
- New: five-year fixed rate 4.09% (APR 4.3% purchase/4.2% remortgage, SVR 4.0%), 75% LTV, with a £995 product fee
- Rate reductions: two, three & five-year fixed rate and two-year tracker 60% & 75% LTV mortgages will have their rates reduced by up to 0.20 basis points
- Fee reduction: the fee on the five-year fixed rate, 60% LTV, purchase and remortgage is decreasing by £300 to £2,195.
- Rate increases the rates on the 18-month and two-year tracker 75% LTV mortgages are going up by 0.10 basis points and 0.16 basis points respectively.
“The introduction of the higher LTV mortgages to our Current Account range means that we have an extensive choice of products for intermediaries across a broad range of LTVs and terms,” said Mark Bullard, head of sales, NatWest Intermediary Solutions.
“For those applicants that already have an existing banking relationship with NatWest or RBS there are added benefits to be had from the Main Bank and Current Account ranges. And for those applicants who don’t, we still have a good variety of mortgages in our Core range.”
