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 simplify New Customer range
Effective 16th June we’re making rate changes and simplifying our new customer product range up to 90% LTV. We continue to have purchase products available up to 95% LTV.
We’re making this change due to current market conditions and to ensure we continue to provide the service levels you and your customers expect from us.
The summary of these changes is as follow:
New Business range simplification
We have simplified our pricing across a range of LTV mortgage products as follows:
- Purchase: We’re aligning pricing of selected products for both 2 and 5 year deals, up to 90% LTV.
- Remortgage: We’re aligning pricing of selected products for both 2 and 5 year deals, up to 90% LTV. This also impacts ‘no free legals’ products.
- First time buyer: We’re aligning pricing of selected products for both 2 and 5 year deals, up to 90% LTV.
- Shared equity – purchase: We’re aligning pricing of selected products for both 2 and 5 year deals, up to 75% LTV.
- Help to Buy shared equity – remortgage: We’re aligning pricing of selected products for both 2 and 5 year deals, up to 75% LTV.
- Buy to Let – Green purchase: We offer a range of products from 65% to 75%.
- Buy to Let – Green remortgage: We offer a range of products from 65% to 75%, including ‘no free legals’ products.
New Business rate changes
- Purchase: Rate increase of up to 28bps and 25bps on selected 2 year and 5 year 75% LTV deals.
- Remortgage: Rate increase of up to 34bps and 45bps on selected 2 year and 5 year 75% LTV deals.
- Shared equity – purchase: Rate increase of up to 13bps and 10bps on selected 2 year and 5 year 75% LTV deals.
- Help to Buy shared equity – remortgage: Rate increase of up to 19bps and 30bps on selected 2 year and 5 year 75% LTV deal
You’ll find a full summary of the changes including transitional arrangements and you’ll be able to download a PDF of our updated product range.