NatWest Intermediary Solutions is introducing a number of rate reductions of between 10-40bps on residential and buy-to-let mortgage deals tomorrow (12 August).
On the residential side, its two-year fixed rate 85% LTV mortgage will be cut by 40bps from 3.59% to 3.19% and its Help to Buy: mortgage guarantees scheme deal at 95% LTV will have a 24bps reduction from 5.69% to 5.45%.
For buy-to-let, the five-year 60% LTV product will be reduced by 20bps from 4.79% to 4.59%.
Changes on purchase and remortgage deals are as follows:
Residential
- 2 year fixed rate, reducing to 2.25% from 2.35%, 60% LTV, £995 product fee
- 2 year fixed rate, reducing to 3.19% from 3.59%, 85% LTV, £995 product fee
- 2 year fixed rate, reducing to 5.45% from 5.69%, 95% LTV, £0 product fee
- 3 year fixed rate, reducing to 2.45% from 2.55%, 60% LTV, £995 product fee
- 3 year fixed rate, reducing to 3.59% from 3.74%, 85% LTV, £995 product fee
- 5 year fixed rate, reducing to 3.38% from 3.49%, 60% LTV, £995 product fee
- 2 year tracker, reducing to 1.85% from 1.95%, 60% LTV, £995 product fee
Buy-to-let
- 2 year fixed rate, reducing to 3.69% from 3.85%, 60% LTV, £0 product fee
- 5 year fixed rate, reducing to 4.59% from 4.79%, 60% LTV, £0 product fee
- 2 year tracker, reducing to 3.29% from 3.45%, 60% LTV, £0 product fee
Mark Bullard, head of sales, NatWest Intermediary Solutions, said: “With the intermediary mortgage market continuing its buoyancy I am delighted that we are able to introduce rate cuts to over 20 of our deals. Our portfolio offers a broad spectrum of LTVs and tomorrow’s rate changes will cover both the higher and lower ranges in sectors that we have enjoyed much success this year, namely the Help to Buy: mortgage guarantee scheme and buy-to-let.
“I am delighted that we have made these changes and our recently expanded team of BDMs will be talking these through with their panels of brokers over the coming days.”