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NatWest launches cashback fixed rates for FTBs

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NatWest Intermediary Solutions has included a number of new two- and five-year fixed rate cashback mortgages into its first-time buyer range.

The deals all have a £500 cashback payment that the customer will receive on completion of their mortgage.

Only one of the mortgage applicants needs to be a first-time buyer to be eligible.

They all have no product fee.

Two-year fixed rates

80 per cent LTV at 2.72 per cent

85 per cent LTV at 2.87 per cent

90 per cent LTV at 2.97 per cent

Five-year fixed rates

80 per cent LTV at 3.54 per cent

85 per cent LTV at 3.57 per cent

90 per cent LTV at 3.88 per cent

NatWest Intermediary Solutions head of sales Mark Bullard says: “Cashback has been a growing feature on first-time buyer mortgages since the end of 2014, with 40 per cent of first-time buyers opting for a cashback mortgage in 2016.

“As part of our commitment to support first-time buyers, we believe that the addition of cashback, alongside our Help to Buy, shared equity and other first-time buyer mortgages offers brokers a really comprehensive choice for their customers.”

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