NatWest increases cost of fixed-rate deals

Natwest-Branch-Building-2013-700.jpgNatWest is increasing rates on selected fixed-rate deals across its core, semi-exclusive and buy-to-let mortgage ranges.

On its core range, there will be changes to its residential purchase deals. Two-year fixes will be increased by up to 15 basis points, depending on the relevant LTV.

There will be more modest increases to NatWest’s five-year fixed-rate purchase deals. These will  increase by 1 basis point at both 60 per cent and 95 per cent LTV.

In this range NatWest is also increasing the cost of its shared equity and Help to Buy mortgages.

In both cases the two year fixed-rate deals will increase by 15 basis points. On the five-year fix there will be an increase of just 1 basis point for purchases at 70 per cent and 75 per cent LTV.

On NatWest’s semi-exclusive range there will be increases to five-year fixes for both purchases and remortgaging. These will be increase by between one and six basis points, depending on the exact mortgage deal.

Rates on NatWest’s buy-to-let deals are also edging upwards, with the biggest increases on its five-year fixes for purchase. These will be increased by between six and 11 basis points.

In contrast, the five-year fix for remortgaging will see an increase of between two and three basis points.

NatWest Intermediary Solutions spokesman says: “We have made some adjustments to rates to reflect the current market conditions and balance our mix of business.”



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