NatWest has announced that it is introducing rate changes across its core and semi-exclusive residential and buy-to-let purchase and remortgage ranges.
According to the lender, in its core range, residential mortgages will see cuts of between 10-20bps on high-LTV two and five year fixed rates. All two-year fixed rate remortgages and selected buy-to-let remortgages will increase by 10bps.
Across the Bank's semi-exclusive range, selected first-time buyer only products will see rate reductions of 13-18 bps and cashback reduction from £750 to £500.90% LTV two-year fixed rate will decrease by 22bps and 90% LTV remortgage rates will be cut between 5-24bps.
Other two-year fixes will increase by up to 9bps.
Five-year fixed rate purchase products will reduce by up to 0.25% and remortgage rates will drop by up to 0.30%. Two and five-year buy-to-let purchase and remortgage products will increase by up to 26bps and 10bps respectively.
NatWest will also introduce its new product transfer and retention fee facility with a specific range of deals, including two-year fixed rates from 1.90% and five-year fixes from 2.44%. It is also offering 100% LTV two-year fixed rates from 3.60%.
Mark Bullard, Head of Sales, commented: “Having reviewed our portfolio we have made a few adjustments to rates to reflect the current market conditions and balance our mix of business. I am delighted that we have added to our already extensive range of intermediary mortgages with the introduction of our product transfer mortgages enabling brokers to help current NatWest mortgage holders to switch to a new NatWest deal.”