NatWest cuts five-year fix to 0.99%

Essex Home Finance
NatWest is trimming rates on a number of deals by up to 11 basis points.
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NatWest is trimming rates on a number of deals by up to 11 basis points, including cutting one of its five-year fixed rates to below 1%.

Tomorrow, the lender is reducing its 60% LTV five-year fix for purchase by 5 basis points from 1.04% to 0.99% with a £995 fee.

It is also cutting the remortgage version of the product by the same amount, but at the same time it is removing the £250 cashback incentive.

According to the current deals listed on Moneyfacts.co.uk, only HSBC is offering a lower rate for five years at 0.96%, but that comes with a larger £1,499 fee.

HSBC also has a 0.99% five-year fix with a £999 fee. 

NatWest is cutting the following two-year fixed rate deals for purchase:

  • 70% LTV, decreasing by 4 bps from 1.07% to 1.03%, product fee £995
  • 75% LTV, decreasing by 4 bps from 1.07% to 1.03%, product fee £995
  • 80% LTV, decreasing by 5 bps from 1.63% to 1.58%, product fee £995
  • 90% LTV, decreasing by 10 bps from 2.23% to 2.13%, product fee £995
  • 85% LTV, decreasing by 4 bps from 1.85% to 1.81%, product fee £995, and cashback increasing from £0 to £250

The lender is also cutting its 80% LTV two-year fixed rate remortgage deal by 5 bps from 1.63% to 1.58%, product fee £995

NatWest is cutting the following five-year fixes:

  • 60% LTV for purchase, decreasing by 5 bps from 1.04% to 0.99%, product fee £995
  • 90% LTV for purchase, decreasing by 11 bps from 2.84% to 2.73%, product fee £995, cashback decreasing from £250 to £0

The following green mortgage deals are being withdrawn:

  • Two-year fixed rate purchase at 75% LTV, 1.07%, product fee £995, cashback £250
  • Two-year fixed rate purchase at 85% LTV, 1.84%, product fee £995, cashback £250
  • Five-year fixed rate purchase at 60% LTV, 1.03%, product fee £995, cashback £250
  • Five-year fixed rate remortgage at 60% LTV, 1.03%, product fee £995, cashback £250

Original Article from Mortgage Strategy 16/08/21

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