NatWest to slash rates by up to 49bps

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NatWest Intermediary Solutions will be cutting rates on some of its higher LTV residential mortgages by up to 49 basis points.

Tomorrow, the lender will cut a residential purchase and remortgage 90 per cent LTV two-year fix from 2.91 per cent to 2.50 per cent with a £995 product fee and another from 3.45 per cent to 2.98 per cent with no fee.

For three-year fixes, NatWest is cutting rates on its £995 90 per cent LTV product from 3.31 per cent to 3.11 per cent.

But on three-year fixes with no fee, NatWest is increasing rates on its 60 per cent LTV products from 2.52 per cent to 2.56 per cent.

The firm is decreasing rates on its 90 per cent product from 3.78 per cent to 3.58 per cent.

NatWest is also cutting rates on its first-time buyer purchase-only products.

The lender says it will reduce its 90 per cent LTV two-year fix with no product fee from 3.39 per cent to 2.94 per cent.

NatWest’s 90 per cent LTV five-year fix with no product fees will be cut by 49 basis points, from 4.09 per cent to 3.60 per cent.

The lender’s 95 per cent LTV Help to Buy mortgage guarantee two-year fix will be cut by 45 basis points to 3.79 per cent with no fee.

NatWest Intermediary Solutions head of sales Mark Bullard says: “We have long supported first-time buyers and home buyers with smaller deposits with a good range of appropriate mortgages, that includes the Government’s Help to Buy schemes.

“The changes we are introducing provide further evidence of our commitment to this important sector of the mortgage market.”