NatWest Intermediary Solutions is making rate reductions across the vast majority of its residential mortgage range tomorrow (27 February), including its higher LTV deals for first time buyers and those using the Help to Buy and New Buy schemes.
New deals include the following:
First-time buyer only two-year fixed rate deals – rate cuts of between 31-66bps
£0 product fee:
80% LTV deal reducing by 66bps from 2.95% to 2.29%
85% LTV deal reducing by 49bps from 3.23% to 2.74%
90% LTV deal reducing by 31bps from 3.95% to 3.64%
First-time buyer only five- year fixed rate deals – rate cuts of between 10-31bps
£0 product fee:
80% LTV deal reducing by 24bps from 3.49% to 3.25%
85% LTV deal reducing by 31bps from 3.95% to 3.64%
90% LTV deal reducing by 10bps from 4.35% to 4.25%
Help to Buy shared equity scheme deals – rate cuts of between 51-54bps
£0 product fee:
Two-year fixed rate 75% LTV deal reducing by 51bps from 2.93% to 2.42%
5 year fixed rate 75% LTV deal reducing by 54bps from 3.69% to 3.15%
Help to Buy: mortgage guarantee and NewBuy scheme deals – rate cuts of between 27-46bps
£0 product fee:
Two-year fixed rate 95% LTV deal reducing by 46bps from 4.95% to 4.49%
Five-year fixed rate 95% LTV deal reducing by 27bps from 5.25% to 4.98%
Two-year fixed rate deals – rate cuts of between 7-76bps
£995 product fee:
80% LTV deal reducing by 15bps from 2.28% to 2.13%
85% LTV deal reducing by 26bps from 2.69% to 2.43%
90% LTV deal reducing by 27bps from 3.65% to 3.38%
£0 product fee:
75% LTV deal reducing by 51bps from 2.93% to 2.42%
80% LTV deal reducing by 76bps from 3.29% to 2.53%
85% LTV deal reducing by 61bps from 3.54% to 2.93%
90% LTV deal reducing by 31bps from 4.05% to 3.74%
Three-year fixed rate deals – rate cuts of between 3-41bps
£0 product fee:
75% LTV deal reducing by 13bps from 2.98% to 2.85%
80% LTV deal reducing by 41bps from 3.39% to 2.98%
Five-year fixed rate deals – rate cuts of between 9-94bps
£995 product fee:
60% LTV deal reducing by 19bps from 2.49% to 2.30%
70% LTV deal reducing by 14bps from 2.88% to 2.74%
85% LTV deal reducing by 15bps from 3.69% to 3.54%
90% LTV deal reducing by 10bps from 4.29% to 4.19%
£0 product fee:
60% LTV deal reducing by 46bps from 3.24% to 2.78%
70% LTV deal reducing by 31bps from 3.29% to 2.98%
75% LTV deal reducing by 54bps from 3.69% to 3.15%
80% LTV deal reducing by 50bps from 3.85% to 3.35%
85% LTV deal reducing by 31bps from 4.05% to 3.74%
Two-year trackers – rate cuts of between 7-51bps
£995 product fee:
70% LTV deal reducing by 7bps from 1.75% to 1.68%
£0 product fee:
60% LTV deal reducing by 16bps from 2.35% to 2.19%
70% LTV deal reducing by 25bps from 2.49% to 2.24%
75% LTV deal reducing by 51bps from 2.83% to 2.32%
The rates on its buy-to-let mortgages will be increased by 30bps.
Paul Kane, acting head of sales at NatWest Intermediary Solutions, said: “We are pleased to be able to make such significant cuts to so many of our residential deals, especially those with higher LTVs to help first-time buyers and those using the government schemes to secure their first properties. We continue to offer brokers a great choice of product fee and rate combinations across the LTV range from 60-90%.
“It’s been a very busy 2015 so far. We will continue to actively manage our product range to ensure that we offer intermediaries a competitive set of deals and we maintain the correct balance of business.”