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

Effective from Thursday 29th April 2021 we will be making a variety of changes to our product range for new and existing customers.

These changes include rate reductions of up to 34bps 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

  1. Core Range – Rate changes
  • Purchase: Rate reduction of up to 33bps and 34bps on selected 2 and 5 year deals.
  • Remortgages: Rate reduction of up to 14bps and 26bps on selected 2 and 5 year deals respectively.
  • Remortgages – High Value: Rate reduction of 2bps and 5bps on selected 2 and 5 year deals respectively.
  • First time buyer: Rate reduction of 4bps on 80% LTV deal.
  • Green Mortgage – Purchase: Rate reduction of 1bps and up to 8bps on selected 2 and 5 year deals respectively.
  1. Core Range – Rate and cashback changes 
  • Purchase (2 year): Rate reduction of up to 4bps on selected deals, with cashback increasing from £0 to £250. Rate increase of 1bps on 75% LTV deal, with cashback increasing from £0 to £200.
  • Purchase (5 year): Rate reductions of up to 24bps on selected deals, with cashback increasing from £0 to £250. Rate increase of 1bps on 90% LTV deal, with cashback increasing from £0 to £250.
  • Remortgage (2 year): Rate reduction of 7bps on 90% LTV deal, with cashback increasing from £0 to £250.
  • Remortgage (5 year): Rate increase of 1bps on 60% LTV deal, with cashback increasing £0 to £250. Cashback also increasing from £0 to £250 to 80% LTV deal.

Existing Customers

 

  1. Core Range – Rate changes
  • Switchers: Rate increase of up to 25bps and 15bps on selected 2 and 5 year deals.

Here’s a full list the changes with product codes in brackets:

New Business

 

Core Range

Residential

Rate Changes

2 year fixed rate purchase

[FO26224] 60% LTV, decreasing by 26bps from 1.78% to 1.52%, product fee £0

[FO26225] 70% LTV, decreasing by 3bps from 1.28% to 1.25%, product fee £1,495

[FO26226] 70% LTV, decreasing by 33bps from 2.18% to 1.85%, product fee £0

[FO26228] 75% LTV, decreasing by 33bps from 2.18% to 1.85%, product fee £0

[FO26230] 80% LTV, decreasing by 5bps from 2.48% to 2.43%, product fee £0

[FO26229] 80% LTV, decreasing by 2bps from 1.98% to 1.96%, product fee £995

[FO26231] 90% LTV, decreasing by 8bps from 3.16% to 3.08%, product fee £995, cashback £250

2 year fixed rate remortgage

[FO26242] 60% LTV, decreasing by 5bps from 1.53% to 1.48%, product fee £0

[FO26241] 60% LTV, decreasing by 5bps from 1.15% to 1.10%, product fee £995

2 year fixed rate remortgage – high value

[FO26269] 60% LTV, decreasing by 5bps from 1.08% to 1.03%, product fee £1,495

2 year fixed rate remortgage

[FO26243] 70% LTV, decreasing by 4bps from 1.38% to 1.34%, product fee £995

[FO26244] 70% LTV, decreasing by 5bps from 1.78% to 1.73%, product fee £0

2 year fixed rate remortgage – high value

[FO26270] 70% LTV, decreasing by 5bps from 1.31% to 1.26%, product fee £1,495

2 year fixed rate remortgage

[FO26245] 75% LTV, decreasing by 4bps from 1.38% to 1.34%, product fee £995

2 year fixed rate remortgage – high value

[FO26271] 75% LTV, decreasing by 5bps from 1.31% to 1.26%, product fee £1,495

2 year fixed rate remortgage

[FO26246] 75% LTV, decreasing by 5bps from 1.78% to 1.73%, product fee £0

[FO26248] 80% LTV, decreasing by 5bps from 2.48% to 2.43%, product fee £0

[FO26247] 80% LTV, decreasing by 2bps from 1.98% to 1.96%, product fee £995

[FO26249] 85% LTV, decreasing by 3bps from 2.49% to 2.46%, product fee £995

[FO26250] 85% LTV, decreasing by 5bps from 2.83% to 2.78%, product fee £0

[FO26252] 90% LTV, decreasing by 14bps from 3.44% to 3.30%, product fee £0

5 year fixed rate purchase

[FO26234] 60% LTV, decreasing by 34bps from 1.93% to 1.59%, product fee £0

[FO26236] 75% LTV, decreasing by 4bps from 1.63% to 1.59%, product fee £995

[FO26238] 85% LTV, decreasing by 8bps from 2.83% to 2.75%, product fee £995, cashback £150

[FO26239] 85% LTV, decreasing by 8bps from 3.07% to 2.99%, product fee £0

5 year fixed rate remortgage – high value

[FO26272] 60% LTV, decreasing by 2bps from 1.23% to 1.21%, product fee £1,495

5 year fixed rate remortgage

[FO26254] 60% LTV, decreasing by 4bps from 1.61% to 1.57%, product fee £0

[FO26256] 70% LTV, decreasing by 7bps from 1.89% to 1.82%, product fee £0

[FO26255] 70% LTV, decreasing by 2bps from 1.59% to 1.57%, product fee £995

5 year fixed rate remortgage – high value

[FO26273] 70% LTV, decreasing by 2bps from 1.53% to 1.51%, product fee £1,495

[FO26274] 75% LTV, decreasing by 2bps from 1.53% to 1.51%, product fee £1,495

5 year fixed rate remortgage

[FO26258] 75% LTV, decreasing by 7bps from 1.89% to 1.82%, product fee £0

[FO26257] 75% LTV, decreasing by 2bps from 1.59% to 1.57%, product fee £995

[FO26260] 85% LTV, decreasing by 26bps from 3.29% to 3.03%, product fee £0

[FO26262] 90% LTV, decreasing by 20bps from 3.74% to 3.54%, product fee £0

[FO26261] 90% LTV, decreasing by 5bps from 3.44% to 3.39%, product fee £995

Rate Changes and Cashback Changes

2 year fixed rate purchase

[FO26223] 60% LTV, decreasing by 4bps from 1.18% to 1.14%, product fee £995, cashback increasing from £200 to £250

[FO26227] 75% LTV, increasing by 1bps from 1.38% to 1.39%, product fee £995, cashback increasing from £0 to £200

[FO26232] 90% LTV, decreasing by 1bps from 3.38% to 3.37%, product fee £0, cashback increasing from £0 to £250

2 year fixed rate remortgage

[FO26251] 90% LTV, decreasing by 7bps from 3.24% to 3.17%, product fee £995, cashback increasing from £0 to £250

5 year fixed rate purchase

[FO26233] 60% LTV, decreasing by 1bps from 1.28% to 1.27%, product fee £995, cashback increasing from £0 to £250

[FO26235] 70% LTV, decreasing by 24bps from 2.19% to 1.95%, product fee £0, cashback increasing from £0 to £250

[FO26237] 75% LTV, decreasing by 24bps from 2.19% to 1.95%, product fee £0, cashback increasing from £0 to £250

[FO26240] 90% LTV, increasing by 1bps from 3.38% to 3.39%, product fee £995, cashback increasing from £0 to £250

5 year fixed rate remortgage

[FO26253] 60% LTV, increasing by 1bps from 1.28% to 1.29%, product fee £995, cashback increasing from £0 to £250

Cashback Changes

5 year fixed rate remortgage

[FO26259] 80% LTV, 2.18%, product fee £995, cashback increasing from £0 to £250

 

First Time Buyer

Residential

Rate Changes

2 year fixed rate purchase

[FO26263] 80% LTV, decreasing by 4bps from 2.04% to 2.00%, product fee £995, cashback £500

 

Green Mortgages

Residential

Rate Changes

2 year fixed rate purchase

[FO26264] 60% LTV, decreasing by 1bps from 1.13% to 1.12%, product fee £995, cashback £250

[FO26265] 75% LTV, decreasing by 1bps from 1.38% to 1.37%, product fee £995, cashback £250

5 year fixed rate purchase

[FO26266] 60% LTV, decreasing by 2bps from 1.28% to 1.26%, product fee £995, cashback £250

[FO26267] 75% LTV, decreasing by 5bps from 1.63% to 1.58%, product fee £995, cashback £250

[FO26268] 85% LTV, decreasing by 8bps from 2.82% to 2.74%, product fee £995, cashback £250

 

Existing Customer

 

Core Range

Residential

Rate Changes

2 year fixed rate switcher

[FO26276] 90% LTV, increasing by 11bps from 3.18% to 3.29%, product fee £0

[FO26275] 90% LTV, increasing by 25bps from 2.84% to 3.09%, product fee £995

[FO26278] 100% LTV, increasing by 5bps from 3.25% to 3.30%, product fee £0

[FO26277] 100% LTV, increasing by 10bps from 3.00% to 3.10%, product fee £995

5 year fixed rate switcher

[FO26279] 90% LTV, increasing by 15bps from 3.24% to 3.39%, product fee £995

 

 

End dates

 

There are no changes to end dates

Transitional arrangements

You’ll be able to produce Mortgage Illustrations and submit applications online for existing deals up to 10:30pm Wednesday 28 April, 2021.

If you are unable to submit an application online due to a technical issue that cannot be resolved over the phone, then you must submit a paper-based application. In this instance, you must e-mail your BDM by midday on Thursday 29 April 2021. Requests received after this time will not be considered.

Your email must include in bullet points:

  • Your details – name, company and postcode
  • Customer name
  • Product applying for
  • Amount of mortgage loan
  • Reason for paper application – If you have experienced a technical issue a clear description of the problem encountered with error code (if applicable) must be provided
  • State whether you were trying to submit via NatWest Intermediary Solutions’ website or the Mortgage Trading Exchange

Paper applications must be signed by all applicants and the original received at the following address by close of business on Tuesday 4 May 2021 for your rate to be honoured:

 

 

FREEPOST NatWest Intermediary Solutions

Mortgage Centre

Cartsdyke Avenue

Greenock

PA15 1ED

 

For a complete listing of all our mortgage products, please visit the product page on our web site.

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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