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.
NatWest to make rate decreases across new and existing customer ranges
Effective from Tuesday 19 January 2021 we are delighted to announce that we will be making a range of rate decreases across our new and existing customer product ranges.
These changes support numerous customer types, from those looking to purchase or remortgage or for first time buyers and customers looking at shared equity mortgages.
- For our no fee-based product range, we’re making reductions of 6bps up to 256bps
- For our fee-based product range, we’re making reductions of 1bps up to 46bps.
- We’ve made sizeable reductions of up to 130bps and 256bps across our help to buy shared equity purchase and remortgage ranges.
- For existing customers we have made reductions of 12bps and 15bps on selected product switcher deals.
- We’re also changing our end dates. 2 year term end dates are moving from 31 March 2023 to 30 June 2023 and 5 year term end dates are moving from 31 March 2026 to 30 June 2026
The rate decreases are across a wide selection of LTV bandings and the full summary is as follows:
New Business
A. Core Range
- Purchase: Rate reductions of up to 62bps and 116bps on selected 2 and 5 year deals respectively.
- Remortgage: Rate reductions of up to 105bps and 123bps on selected 2 and 5 year deals respectively.
- Remortgage – High Value: Rate reductions of up to 1bps and 3bps on selected 2 and 5 year deals respectively.
- Green Mortgage – Purchase: Rate reductions of up to 3bps and 4bps selected 2 and 5 year deals respectively.
- First Time Buyer – Purchase: Rate reductions of up to 11bps and 65bps on 80% LTV 2 and 5 year deals respectively.
- Shared Equity – Purchase: Rate reductions of up to 63bps and 130bps selected 2 and 5 year deals respectively.
- Help to Buy Shared Equity – Purchase: Rate reductions of up to 63bps and 130bps selected 2 and 5 year deals respectively.
- Help to Buy Shared Equity – Remortgage: Rate reductions of up to 135bps and 256bps selected 2 and 5 year deals respectively.
Existing Customer
B. Exclusives
- Products Switchers: Rate reductions of up to 12bps and 15bps on 2 and 5 years deals respectively
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.