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NatWest makes rate changes to residential deals for new customers

Jessica Bird

June 29, 2020

NatWest

NatWest has introduced rate decreases for new customers on products across its Core and Semi-Exclusive residential ranges.

The changes also include reductions to cashback across the lender’s 2 and 5-year remortgage ranges, and a withdrawal of selected Semi-Exclusive remortgage products.

In its intermediary exclusive range, NatWest has made the following changes:

For purchases, NatWest has made rate reductions of up to 4bps on selected 2-year deals and 8bps on selected 5-year deals.

For Help to Buy shared equity remortgages, the lender has made reductions of up to 25bps both on selected 2 and 5-year deals.

NatWest has withdrawn one 80% loan-to-value (LTV) 2-year remortgage product, and selected 70%, 75% and 80% LTV 5-year products.

In its core range, the lender has made the following changes:

Rate reductions of up to 4bps on selected 2-year purchase deals and 8bps on selected 5-year deals.

For shared equity purchase rates have been reduced by up to 10bps on selected 2-year deals and 24bps on selected 5-year deals.

On Help to Buy shared equity purchases, rate reductions have been made of up to 10bps on selected 2-year deals and 24bps on selected 5-year deals.

The lender’s 60% LTV 5-year high value remortgage deal has been reduced by 1bps, and its 70% LTV 2 year  remortgage deal has been reduced by 10bps.

Help to Buy shared equity remortgages have been reduced by up to 25bps both on selected 2-and 5-year deals.

The lender has also made rate reductions of up to 11bps on selected 2-year remortgage deals and up to 7bps on selected 5-year remortgage deals, alongside a reduction of cashback from £250 to £0.

For existing customers looking to make a product switch alongside additional borrowing, an option introduced in May, NatWest will be limiting applications to 80% LTV, where the product switch and additional borrowing are combined.

Mark Bullard, head of sales at NatWest Intermediary Solutions, said: “We’re delighted to be making our third tranche of rate reductions this month.

“In particular, we have sharpened up our offering to new business customers, especially those looking at Help to Buy or to purchase their new home.”


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