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NatWest reduces rates for new and existing customers

Jessica Bird

September 14, 2021

natwest

Effective 15 September, NatWest has made a variety of changes across its product portfolio for both new business and existing customers.

These changes benefit customer segments from those who are looking at the Mortgage Guarantee Scheme or a green mortgage product, with reductions of up to 69 basis points (bps) for remortgage customers and 52bps for existing customers.

For new business, the core range for purchases has seen rate reductions of up to 25bps and 28bps on 2 and 5 year deals respectively.

Remortgage products have seen rate reductions of up to 69bps and 10bps on 2 and 5-year deals respectively.

Mortgage Guarantee Scheme products have seen reductions of 20bps and 14bps on 95% loan-to-value (LTV) 2 and 5-year deals.

Shared Equity has seen rate reductions of up to 17bps on selected 2-year deals, while Help to Buy Shared Equity has been reduced by up to 17bps on selected 2-year deals.

NatWest has reduced rates on its green purchase product up to 19bps and 11bps on 2-and 5-year deals respectively, and on its green remortgage up to 16bps and 1bps on 2 and 5-year deals respectively.

Also in its core purchase range, the lender has made rate reductions of 18bps and up to 20bps on 2 and 5-year deals, with a range of cashback changes.

Remortgage products have seen reductions of up to 29bps and 19bps on 2 and 5-year deals respectively, with a range of cashback changes.

The shared equity product has been reduced by 21bps with a cashback increase to £400 on 60% 2-year deal, while the Help to Buy shared equity deal has seen a reduction of 21bps and a cashback increase to £400 on a 60% 2-year deal.

For first-time buyers rates have been reduced by up to 18bps and 14bps on 2 and 5-year deals respectively, with a range of cashback changes.

For purchases, cashback is decreasing to £0 on an 80% LTV 5-year deal.

In terms of existing customers, the NatWest switcher rate has been reduced by up to 52bps and 11bps on 2 and 5-year deals respectively, while the high value rate has seen reductions of up to 9bps and 9bps on 2 and 5-year deals respectively.


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