Home Commercial Property NatWest increases residential rates by up to 30bps

NatWest increases residential rates by up to 30bps

by LLP Finance Reporter
3rd Sep 20 3:03 pm

NatWest Intermediary Solutions has announced a series of rate changes across its core mortgage product range.

For purchase products, selected two-year deals will increase by up to 30 Basis points (bps) and five-year rates by up to 20bps.

The biggest increases are to NatWest’s 85% loan to value (LTV) products, with a two-year fixed rate increasing by 30bps from 2.14% to 2.44% and a five-year fix from 2.44% to 2.64%.

Remortgage products will see rate increases of up to 15bps on selected two-year deals and 17bps on five-year deals.

Additionally, NatWest is lowering the loan amount threshold for its High Value products, meaning more borrowers will be eligible for more competitive rates. The minimum loan amount for High Value products will be reducing from £500,000 to £350,000.

A NatWest spokesperson said, “We have taken this opportunity to review our proposition to ensure it is in line with current market conditions.”

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