NatWest to cut rates on higher LTV deals
It will also be making some small increases to rates on its lower LTV deals and launching a new 2 year tracker rate mortgage.
The biggest rate reductions are being introduced to its 90% LTV deals with its 2 year fixed-rate deals being cut by 34bps to 2.76% (£995 product fee) and 49bps to 3.25% (no product fee); its 3 year fixed rate deals coming down 37bps to 3.31% (£995 product fee) and 37bps to 3.78% (no product fee); and its 5 year fixed rate mortgages reducing by 13 bps to 3.60% (£995 product fee) and 42bps to 3.93% (no product fee).
The new 2 year tracker will offer an initial rate of 1.78% for a max LTV of 75%.
Paul Kane, acting head of sales at NatWest Intermediary Solutions, said: “We regularly review our intermediary range of products to ensure that we offer a balanced and competitive portfolio.
“The rate reductions on our higher LTV mortgages should provide brokers with a better choice to offer their customers with smaller deposits.”