NatWest reprices fixed-rate mortgages

NatWest is repricing its range of fixed-rate residential and buy-to-let mortgages.

Some will be cut by up to 0.20 per cent, others will rise by up to 0.10 per cent.

The changes will come into effect on 14 December, when it introduces its new product transfer and retention fee facility.

There will be changes to products in its core and semi-exclusive range, and this will affect both house purchase and remortgage options.

On its core range, some of the biggest changes will be for those with smaller deposits. NatWest is reducing rates on two-year fixed rate purchase mortgage by between 0.1 and 0.2 per cent, at 90 and 95 per cent LTV.

However, all its two-year fixed rate remortages will increase by 0.1 per cent.

On its semi-exclusive range, NatWest is cutting rates on its first-time buyer product by 0.13 to 0.18 per cent. However, the cashback will be cut from £750 to £500 on two of these deals.

It is also reducing the cost of its exclusive two-year and five-year fixed rate purchase options, by up to 0.22 per cent and 0.25 per cent respectively.

In contrast there will be increases of up to 0.26 per cent on its two-year fixed rate buy-to-let range.

NatWest’s head of sales Mark Bullard says: “Having reviewed our portfolio we have made a few adjustments to rates to reflect the current market conditions and balance our mix of business.

“We have added to our range of intermediary mortgage with the introduction of our product transfer mortgages, enabling brokers to help current NatWest mortgage holder to switch to a new NatWest deal.”

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