Brilliant Solutions

Natwest Update

NatWest for Intermediaries has released a product update. For their latest products visit the product page on their website or the news section of their intermediary website.  A summary of the changes is below.  Contact us for more information. 

ONLY FOR USE BY MORTGAGE INTERMEDIARIES

NatWest to make rate reductions across New Customer product range

Effective 30th September we are making a variety of changes across our product portfolio for New Business customers.

These changes benefit a number of customer segments from those who are looking at the Mortgage Guarantee Scheme, First Time Buyers or a remortgage product, with reductions of up to 23bps.

New Business

A – Core Range – New Products

  • Buy to Let: 2 new 75% LTV products, covering both 2 and 5 year deals
  • Green Purchase: New 85% LTV product, with £995 product fee and £250 cashback

B – Core Range – Rate Changes

  • Purchase: Rate reductions of up to 23bps and 12bps on selected 2 and 5 year deals respectively
  • Remortgage: Rate reductions of up to 16bps on 2 year deals
  • First Time Buyer: Rate reductions of up to 23bps and 14bps on selected 2 and 5 year deals respectively
  • Mortgage Guarantee Scheme: Rate reductions of 15bps and 14bps on 95% LTV 2 and 5 year deals
  • Green Purchase: Rate reduction of 13bps on 85% LTV 5 year deal
  • Green Remortgage: Rate reduction of 19bps on 85% LTV 2 year deal

C – Core Range – Rate Changes and Fee Changes

  • Tracker Remortgage: Rate reductions of 18bps on 75% LTV 2 year deal, with product fee increasing from £995 to £1,495

D – Core Range – Rate Changes and Cashback Changes

  • Remortgage: Rate reductions of up to 19bps on 2 year deals, with a range of cashback changes.
  • Purchase: Rate reduction of 11bps on 90% LTV 2 year deal, with cashback increasing to £250

E – Core Range – Cashback Changes

  • Purchase: Cashback decreasing to £150 and £0 on 60% LTV 2 and 5 year deals respectively. Cashback increasing to £150 on 80% LTV 2 year deal
  • Remortgage: Cashback decreasing to £150 on 60% LTV 2 and 5 year deals respectively. Cashback decreasing to £100 on 60% LTV 2 year deal, with £0 product fee

You can download a PDF of the updated product ranges on our Website. For a full summary of the changes, including transitional arrangements, visit the Latest News section on our home page.

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