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 changes on products for new business customers

Effective from Friday 21st May 2021 we will be making a variety of changes to our product range for new business customers

These changes include rate reductions of up to 12bps across a wide variety of LTV bandings and support numerous customer types, from purchase and remortgage customers, to those looking at Green Mortgages.

Summary of changes:

New Business

Core Range – Rate changes

  • Purchase: Rate reduction of 2bps on 90% LTV 2 year deal and up to 6bps on selected 5 year deals respectively
  • Remortgages: Rate reduction of up to 5bps on selected 5 year deals
  • Remortgages – High Value: Rate reduction of 4bps on selected 2 year deals
  • First time buyer: Rate reduction of 7bps on 90% LTV deal
  • Green Mortgage – Purchase: Rate reduction of up to 12bps and up to 6bps on selected 2 and 5 year deals respectively

Core Range – Rate Changes and Fee Changes

  • Purchase (2 year): Rate increase of 7bps on 70% LTV deal, with product fee decreasing from £1,495 to £995

Core Range – Rate Changes and Cashback Changes

  • Purchase (2 year): Rate reductions of up to 10bps on selected deals. Cashback decreasing to £0 on 60% and 75% LTV deals, and increasing to £200 on 85% LTV deal
  • Purchase (5 year): Rate reduction of 4bps on 60% LTV deal, with cashback decreasing from £250 to £0

Core Range – Fee Changes

  • Purchase (5 year): Product fee decreasing from £1,495 to £995 on 70% LTV deal

Core Range – Cashback Changes

•         Purchase (2 year): Cashback increasing from £0 to £200 on 80% LTV deal.

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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