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NatWest broker arm cuts rates and launches new products

NatWest Intermediary Solutions is launching a number of products from tomorrow in addition to cutting rates by up to 0.94 per cent on a range of products.

Natwest

The new products are a five-year fixed rate of 3.25 per cent up to 50 per cent LTV and a two-year fixed rate up to 50 per cent LTV at 2.75 per cent will be available from Wednesday, with no product fees.

There is also a two-year tracker at 3.09 per cent up to 70 per cent LTV being introduced with no product fee.

And two new mortgages are being added to the lender’s buy-to-let range. A two-year tracker at 3.65 per cent and a two-year fixed rate at 3.79 per cent will be on offer from tomorrow. Both are available up to 60 per cent LTV and with product fees of £495.

Rate cuts are being applied to a range of fixed-rate and tracker products.

The largest cut is to the two-year fixed rate at 75 per cent LTV in the buy-to-let range, down by 0.94 per cent from 4.49 per cent to 3.55 per cent. The product fee is going up from £1,999 to £2,495.

Rates are increasing on two high-LTV products. The two-year fixed rate at 90 per cent LTV is going up by 0.24 per cent, from 5.75 per cent to 5.99 per cent. The five-year fixed rate at the same LTV is going up by 0.30 per cent, from 6.09 per cnet to 6.39 per cent. Both mortgages are available with a £995 fee.

NatWest Intermediary Solutions head of sales Mark Bullard says: “In the run-up to Christmas I am pleased that we are able to offer our business partners an even better choice of mortgages. Having looked at the market to see where we could offer some added value, we identified that the sub-50 per cent LTV sector was one where intermediaries had limited choice, so our new ‘no product fee’ mortgages should prove to be attractive.

“In addition, we have decided to extend the rates currently being offered on a number of our two year fixed rate deals to a selection of our 3 year deals as a festive special, effectively offering brokers the chance to offer their clients a two year rate on a three year deal.”

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  • Derek Frost 4th December 2012 at 4:20 pm

    We also don’t need an arrangement fee that becomes payable in full should a case be cancelled post offer. Even their own staff agree it’s a disgraceful policy!

  • Rob Rose 4th December 2012 at 3:53 pm

    this is not what we need , broker deals above 75% where they dont need your bank account