MortgagesOct 9 2014

Natwest cuts rates on 30 deals

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Natwest Intermediary Solutions will introduce rate reductions on over thirty residential and buy-to-let mortgage deals tomorrow (10 October).

The majority of its five-year fixed rated mortgages will be cut, including a sub-3 per cent deal, while other reductions are being made to the 60 per cent LTV two and three-year deals and Help-to-Buy 95 per cent LTV mortgages.

On the residential side, the largest rate reductions are being made on the five-year fixed rate deals, including:

• a 39 basis point cut to 2.99 per cent on the 60 per cent LTV/£995 product fee mortgage;

• a 35bps cut to 3.44 per cent on the 60 per cent LTV with no product fee;

• a 35bps cut to 3.54 per cent on the 70 per cent LTV with no product fee; and

• a 34bps cut to 3.25 per cent on the 70 per cent LTV with a £995 fee deal.

Rates on both the lender’s Help to Buy deals – a two and a five-year fixed rate at 95 per cent LTV – will come down by 20bps.

Mark Bullard, head of sales at Natwest Intermediary Solutions, said the changes are the result of intermediary support this year.

“Our appetite for mortgage lending remains high so I am really pleased that we are able to unveil such an eye-catching selection of rate reductions.

“The 60 per cent LTV deals are particularly attractive now that we have a sub-2 per cent two-year fixed and sub-3 per cent five-year fixed and I am sure that the rate cuts to our two help to buy products will be warmly welcomed.”

peter.walker@ft.com