NatWest raises new and existing rates by up to 44 basis points


NatWest raised rates for new businesses and existing customers by up to 44 basis points.

The largest increases are in the lender’s rental and residential products for existing customers.

For existing customers, a two-year BTL fixed rate switcher at 60% LTV, increases by 40bps from 3.14% to 3.54%, at no cost.

A two-year BTL fixed rate switch at 75% LTV, rises 36 basis points from 2.91% to 3.27%, with a product fee of £995.

A five-year fixed-rate BTL switcher at 60% LTV, rises 44bps from 3.15% to 3.59%, with no fees.

A five-year BTL fixed rate switch at 75% LTV, rises 35 basis points from 3.02% to 3.37%, with a fee of £995.

A two-year fixed-rate residential switcher at 60% LTV, rises 36bps from 3.14% to 3.50%, with no fees.

A two-year fixed-rate residential switch at 85% LTV, rises 31 basis points from 2.94% to 3.25%, with a fee of £995.

A five-year fixed-rate residential switcher at 60% LTV, rises 36 basis points from 3.15% to 3.51%, with no fees.

And a five-year fixed-rate residential switch at 90% LTV, increases by 28 basis points, from 3.19% to 3.47%, with a fee of £995.

For new customers, a two-year fixed rate residential purchase at 90% LTV increases by 10 bps from 3.31% to 3.41%, with a charge of £995.

A five-year fixed rate mortgage at 60% LTV, increases by 6 bps, from 3.50% to 3.56%, with no product charges.

A two-year fixed rate purchase at 85% LTV increases by 10 basis points from 3.39% to 3.49%, with a fee of £995 and cashback of £1,000.

A five-year residential fixed-rate purchase in shared equity at 60% LTV increases by 10 basis points, from 3.46% to 3.56%, with a fee of £995 and a cashback of £250.

A fixed rate residential purchase with a two-year mortgage guarantee at 95% LTV, increases by 10 bps from 3.87% to 3.97%, with no product fees and £750 cash back

And a two-year BTL fixed rate purchase at 75% LTV, increases by 10 basis points, from 3.33% to 3.43%, with a fee of £995.

The lender says there are no changes to the term end dates.

The big bank also announced that it had extended its product transfer window from four months to six months with immediate effect.

He says this move includes his Metro customers to NatWest whose transfer transfer window now also aligns with six calendar months.

Luke Christodoulides, National Account Manager at NatWest, said: “This year we have made great strides in improving our product transfer proposition so that we have a streamlined process that allows our broker’s clients to switch easily.

“In the current climate of rising interest rates and uncertainty around the cost of living, we are pleased to be able to support our customers, to enable them to obtain their new mortgage rate much sooner”

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