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NatWest to raise residential and buy-to-let rates

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NatWest is raising rates by up to 0.20 per cent on residential and buy-to-let loans for the second time in a month.

The firm says it is making the increases due to expectations of a base rate rise.

The lender will increase rates by 0.20 per cent on its residential first-time buyer two- and five-year fixed rate purchase products.

The same rise will apply to NatWest’s two- and five-year shared equity scheme loans.

Rises of between 0.16 and 0.20 per cent will be applied to the firm’s fixed rate purchase deals of two or five year durations.

Two-year fixed rate remortgage borrowers will see rate rises of 0.15 per cent.

Five-year fixed rate remortgages will be increased by 0.05 per cent.

Buy-to-let

NatWest will increase buy-to-let two- and five-year fixed rate purchase and remortgage rates by 0.10 per cent.

NatWest head of sales Mark Bullard says: “We have repositioned our portfolio to reflect the current market environment that’s anticipating an increase in base rate.

“We continue to offer a very broad range of attractive deals for brokers and their customers and an appetite for buy-to-let business as demonstrated by the changes we made recently to our proposition and the further enhancements we have planned.”

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