NatWest cuts rates and increases fees

Essex Home Finance
NatWest has made a number of changes across its range, cutting some rates but increasing cashback and fees.
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NatWest has made a number of changes across its range, cutting some rates but increasing cashback and fees.

At NatWest a number of first-time buyer products with no fee are being replaced with deals that have a lower rate and higher cashback but also come with a fee.

The following first-time buyer two-year fixed rates for purchase are being withdrawn:

  • At 80 per cent LTV, 2.48 per cent, product fee £0, cashback £250
  • At 85 per cent LTV, 2.83 per cent, product fee £0, cashback £250
  • At 90 per cent LTV, 3.43 per cent, product fee £0, cashback £250

The following first-time buyer five-year fixed rates for purchase are being withdrawn:

  • At 80 per cent LTV, 2.58 per cent, product fee £0, cashback £250

The replacement two-year fixes for purchase are:

  • At 80 per cent LTV, 2.04 per cent, product fee £995, cashback £500
  • At 85 per cent LTV, 2.56 per cent, product fee £995, cashback £500
  • At 90 per cent LTV, 3.13 per cent, product fee £995, cashback £500

The following five-year fixes for purchase are also being introduced:

  • At 80 per cent LTV, 2.23 per cent, product fee £995, cashback £500
  • At 85 per cent LTV, 2.80 per cent, product fee £995, cashback £500
  • At 90 per cent LTV, 3.42 per cent, product fee £995, cashback £500

Repricing at NatWest include the following changes to its residential two-year fixed rate high value remortgage range:

  •  At 60 per cent LTV, decreasing by 6 basis points from 1.14 per cent to 1.08 per cent, product fee increasing from £995 to £1,495
  • At 70 per cent LTV, decreasing by 6 basis points from 1.42 per cent to 1.36 per cent, product fee increasing from £995 to £1,495
  • At 75 per cent LTV, decreasing by 6bps from 1.42 per cent to 1.36 per cent, product fee increasing from £995 to £1,495

In its high value residential remortgage five-year fixed rate range the following products are changing:

  • At 60 per cent LTV, decreasing by 4 bps from 1.27 per cent to 1.23 per cent, product fee increasing from £995 to £1,495
  • At 70 per cent LTV, decreasing by 5 bps from 1.60 per cent to 1.55 per cent, product fee increasing from £995 to £1,495
  • At 75 per cent LTV, decreasing by 5 bps from 1.60 per cent to 1.55 per cent, product fee increasing from £995 to £1,495

NatWest is also making changes to a number of other products in its range.

Original Article from Mortgage Strategy 07/04/2021

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Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

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