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
Effective from Tuesday 22 June 2021, we’re making widespread changes to our product offering which includes; rate reductions of up to 31bps, the launch of 6 new low LTV Tracker Products and the re-introduction of our Green Mortgage range.
Here’s a summary of the changes:
New Business
Core Range – New Products
- Tracker: Introduction of 3 purchase and 3 remortgage low LTV Tracker Products
- Green Mortgages: Re-introduction of 2 and 5 year Green Purchase Products,
Core Range – Rate changes
- Purchase: Rate reductions of up to 22bps and 7bps on 2 and 5 year deals respectively
- Remortgage: Rate reductions of up to 10bps on 2 and 5 year deals respectively
- First Time Buyer: Rate reductions of up to 15bps and 18bps on 2 and 5 year deals respectively
- Shared Equity – Purchase: Rate reductions of up to 31bps on selected 2 year deals
- Help to Buy Shared Equity – Purchase: Rate reductions of up to 31bps on selected 2 year deals
- Mortgage Guarantee Scheme: Rate reduction of 3bps on 95% LTV 5 year deal
- Buy to Let – Remortgage: Rate reduction of 3bps on selected 2 year deals
Core Range – Rate changes and fee changes
- Remortgage – High Value: Rate reduction of 1bps and up to 2bps on 2 and 5 year deals respectively, with product fees reducing from £1495 to £995. Also includes a rate increase of 1bps on a 60% LTV 5 year product
Core Range – Rate Changes and Cashback Changes
- Remortgage: Rate reductions of up to 5bps and 3bps on 2 and 5 year deals respectively, with cashback increasing from £0 to £250. Also includes a rate reduction of 7bps on a 80% LTV 5 year product, with cashback decreasing from £250 to £0
- Shared Equity – Purchase: Rate reductions of up to 30bps and 21bps on 2 and 5 year deals respectively, with cashback increasing up to £500
- Help to Buy Shared Equity – Purchase: Rate reductions of up to 30bps and 21bps on 2 and 5 year deals respectively, with cashback increasing up to £500
Core Range – Fee Changes
- Remortgage: Product fee decreasing from £1495 to £995 on 60% LTV 2 year deal
Core Range – Cashback Changes
- Remortgage: Cashback increasing from £150 to £250 on 80% LTV 2 year deals and increasing from £0 to £250 on 60% LTV 5 year 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.