NatWest opens up 90pc LTV deals
The new products being launched tomorrow are two 3-year fixed rate 60% loan to value deals offering clients the option of a 2.55% rate with a £995 product fee or a 2.89% rate with no product fee.
In addition it’s simplifying its intermediary product range by making the 90% LTV deals in the Current Account range available to all applicants by moving them into the Core range.
Mark Bullard, head of sales at NatWest Intermediary Solutions, said: “Our continuing appetite to lend and commitment to supporting intermediary distribution has enabled us to introduce these new deals and fine-tune our offering which I hope will provide a further boost to the intermediary mortgage market.
“We have taken the opportunity to simplify our portfolio by making all our deals available in our Core range. This means the 90% LTV mortgages, that proved popular with those applicants who banked with NatWest or RBS, are now open to all clients.
“The new 3-year deals being launched give brokers greater choice in the 60% LTV sector and by sharpening up our 2 and 5-year 60% LTV deals we can offer intermediaries some of the best rates on the market.
“The changes we are introducing mean that we will now have an even broader spread of deals to accommodate clients at pretty much all levels of the LTV spectrum.”
In the Core range the following shared equity purchase deals are being introduced:
o 2 year fixed rate 3.15%, 75% LTV, no product fee
o 5 year fixed rate 4.29%, 75% LTV, no product fee
In the Core range the following deals are being introduced for purchase and remortgage:
o 3 year fixed rate 2.55%, 60% LTV, £995 product fee
o 3 year fixed rate 2.89%, 60% LTV, no product fee
The following deals are being moved into the Core range from the Current Account range*1 for purchase and remortgage:
o 2 year fixed rate 5.99%, 90% LTV, no product fee
o 5 year fixed rate 6.29%, 90% LTV, no product fee
In the Core range the following rate reductions are being introduced for purchase and remortgage deals:
o 2 year fixed rate decreasing to 2.25% from 2.29%, 60% LTV, £995 product fee
o 5 year fixed rate decreasing to 2.95% from 2.99%, 60% LTV, £995 product fee