NatWest Intermediary Solutions has introduced rate reductions to the majority of its core intermediary range.
Mark Bullard, head of sales at NatWest Intermediary Solutions, said: “We are introducing rate cuts right across the LTV range, so whether intermediaries are dealing with first-time buyers, second or third-time movers, remortgagers or buy-to-let investors, they will find value.”
On residential mortgages, rate reductions include:
- Two-year fixed-rate, reduced from 2.45% to 2.10%, 70% LTV, £995 product fee.
- Two-year fixed-rate, reduced from 5.25% to 5.15%, 95% LTV, no product fee.
- Three-year fixed-rate, reduced from 3.09% to 2.69%, 60% LTV, no product fee.
- Three-year fixed-rate, reduced from 2.65% to 2.51%, 70% LTV, £995 product fee.
- Five-year fixed rate, reduced from 2.99% to 2.84%, 60% LTV, £995 product fee.
- Five-year fixed rate, reduced from 5.69% to 5.39%, 95% LTV, no product fee.
The buy-to-let products have seen cuts between 10bps-25bps including:
- Three-year fixed-rate, reduced from 3.59% to 3.34%, 75% LTV, £1,995 product fee.
- Five-year fixed-rate, reduced from 4.45% to 4.25%, 60% LTV, no product fee.
Daniel Bailey, mortgage broker at Derbyshire-based Middleton Finance, said: “This is the big drive towards the end of year to hit lending targets.
“It is good to see the competition hotting up, others will follow suit to try and do more lending and capture consumers attention as a lot of people are sitting on standard variable rates and are not encouraged to switch.”