NatWest IS launches new fixed rates
The new mortgages are a 2 year fixed rate 90% LTV purchase mortgage offering an initial rate of 6.19% with a £999 fee and a 5 year fixed rate 60% LTV, no fee, purchase mortgage with an initial rate of 4.49%.
Rates are also being reduced on a number of its purchase and remortgage products.
The 5 year fixed rate 90% LTV purchase mortgage will reduce by 0.5% from 6.99% to 6.49%. The 2 year fixed rate 80% LTV purchase mortgage and remortgage will have their initial rates reduced by 0.8% from 5.29% to 4.49%. The 2 year fixed rate 75% LTV purchase mortgage and remortgage – previously only available in the corporate range but now moved into the core range – will reduce by 0.10% to 3.54% from 3.64%.
Mark Bullard, head of sales, NatWest Intermediary Solutions, said: “It’s great to be able to kick off the New Year with some new products and rate reductions and to be able to broaden our intermediary core range.
“The two new purchase mortgages will give intermediaries more choice at the different ends of the LTV spectrum. The new 90% LTV product now means that brokers can offer first-time buyers a choice of a two or five year fixed rate mortgage.”