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NatWest Intermediary Solutions launches new fixed rates

Robyn Hall

May 14, 2010

The new fixed rate mortgages are being launched in its corporate range.

They are a 2-year fixed rate 60% LTV purchase deal with an initial rate of 3.29% and a £699 fee; a 2-year fixed rate 75% LTV purchase deal with an initial rate of 3.84% with a £999 fee; and a 2-year fixed rate 60% LTV remortgage with an initial rate of 3.34% and a £699 fee.

The rate on its 18 month tracker 75% LTV purchase mortgage is being reduced from 2.99% to 2.89% and on its shared equity 75% LTV purchase mortgage the rate is being cut to 4.29% from 4.49%.

Rates are being increased on two products in its corporate range.

The 80% and 85% LTV 2-year tracker deals will see a rise of 0.50% and 0.20% respectively.

Graham Felstead, head of intermediary channel, NatWest Intermediary Solutions, said: “We continue to actively manage our portfolio of products to offer intermediaries and their clients a choice of purchase, remortgage and buy-to-let products whilst at the same time preserving our service standards and balancing the mix of business we write.

“I am pleased that we are able to unveil some very competitive lower LTV products to complement the rest of our range, as well as being able to reduce the rates on some of our existing ones. Included in these rate reductions is our shared equity mortgage that has been designed specifically to cater for first-time buyers using schemes such as HomeBuy Direct to raise their deposit.”

Details of the changes to the NatWest Intermediary Solutions range

Corporate range

• Purchase: 2-year fixed rate at 3.29% (4.0% SVR, 4.1% APR), 60% LTV, with a £699 arrangement fee until 31 August 2012

• Purchase: 2-year fixed rate at 3.84% (4.0% SVR, 4.2% APR), 75% LTV, with a £999 arrangement fee until 31 August 2012

• Remortgage: 2-year fixed rate at 3.34% (4.0% SVR, 4.0% APR), 60% LTV, with a £699 arrangement fee until 31 August 2012.

Core range

• Purchase: 18 month tracker is reducing to 2.89% [NW Base rate +2.39%] (4.0% SVR, 4.0% APR) from 2.99%, 75% LTV, with a £499 arrangement fee until 28 February 2012.

• Purchase: Shared equity 2-year fixed rate is reducing to 4.29% (4.0% SVR, 4.2% APR) from 4.49%, 70% LTV, with a £199 arrangement fee until 31 August 2012.

Corporate range

• Purchase: 2-year tracker is increasing to 3.99% [NW Base rate +3.49%] (4.0% SVR, 4.2% APR) from 3.49%, 80% LTV, with a £999 arrangement fee until 31 August 2012.

• Purchase: 2-year tracker is increasing to 4.79% [NW Base rate +4.29%] (4.0% SVR, 4.3% APR), 85% LTV, with a £999 arrangement fee until 31 August 2012.


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