NatWest announces rate cuts and new products

NatWest has announced rate reductions to its core and semi-exclusive residential and buy-to-let mortgages, as well as the introduction of several new products.

Highlights include, in the lender’s core residential range, the introduction of a 95 per cent LTV five-year fix at 3.58 per cent for purchase only, and a 90 per cent LTV five-year fixed rate offer for remortgage at 2.38 per cent.

The latter has a product fee of £995, and both offers include £250 cashback.

Furthermore, within this range the lender has cut the 85 per cent LTV five-year fix for purchase only, from 2.36 per cent to 2.10 per cent. This offer has a £995 product fee and £250 cashback.

Within the lender’s BTL range, Natwest has reduced the 75 per cent LTV five-year fixed remortgage product from 2.62 per cent to 2.58 per cent, and the 75 per cent five-year fix for purchase from 2.79 per cent to 2.51 per cent.

The two offers both include a £995 product fee.

The semi-exclusive range has seen the addition of a 95 per cent LTV five-year fixed rate product for purchase only at 3.33 per cent, and a 90 per cent LTV five-year fix for remortgage at 2.29 per cent.

The former product has £250 cashback, and the latter a £995 product fee.

In addition, the lender has introduced a 75 per cent LTV Help to Buy shared equity product at 1.96 per cent. The offer has £500 cashback and a £995 product fee.

Rate cuts within this range include the 95 per cent LTV two-year fix for purchase only cut from 3.21 per cent to 2.99 per cent. This product also includes a £250 cashback option.

NatWest head of sales Mark Bullard comments: “We have taken this opportunity to review our proposition to ensure it is in line with current market conditions.

“We are delighted to be introducing some significant rate reductions across our product portfolio, which we believe further emphasises our commitment to the broker market.”

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