NatWest is revamping its range of residential and buy-to-let mortgages.
This reboot will see the bank introducing new products on both its core and semi-exclusive mortgage range. However, there will also be a number of products withdrawn, and some re-pricing of existing rates.
On its core residential range NatWest has withdrawn the cashback offer from its range of two year fixes.
On this range the bank is also increasing rates on its shared equity, first-time buyer and Help to Buy mortgage.
However, the bank is decreasing rates on its two- and five-year fix at 95 per cent LTV. These will fall by 17bsp and 14 bsp respectively. Rates have been raised on selected lower LTV bands.
NatWest is also increasing rates on its two-year buy-to-let mortgage for purchases. However, landlords looking for an equivalent five-year fix will see rates cut marginally.
NatWest has also re-introduced its semi-exclusive residential range, with a range of cashback offers on its five-year fixes. These are available for purchase only.
NatWest is also introducing a new five-year fix for those remortgaging, with a fee-free option.
NatWest head of sales Mark Bullard says that bank has reviewed its product portfolio in line with the prevailing market conditions.
Bullard says: “We’re now in a position to re-introduce our semi-exclusive range to our broker partners, with some competitive five-year products.”
These changes will be effective from March 14.