RBS IP cuts fixed rates

Royal Bank of Scotland Intermediary Partners has cut the rates on its select 2-year fixed rate products.

The First Active 2-year fixed rate online only product available at up to 75% LTV will be reduced to 5.20% from 5.55% with a £999 arrangement fee until January 31 2011. The long term rate is 4.29%.

RBSIP says it won’t charge basic legal or valuation fees for a standard residential remortgage.

And it says it will accept overpayments of up to 10% of the original balance per annum during the initial deal period.

The RBS IP two-year fixed rate available at max 60% LTV will be reduced to 4.89% from 4.99% with a £999 arrangement fee until January 31 2011.