You are here: Home - First Time Buyers - News -

NatWest slashes rates by more than two percentage points

0
Written by: Shekina Tuahene
18/01/2021
The lender has reduced the cost of a wide range of its mortgages for first-time buyers, movers and remortgagors
NatWest slashes rates by more than two percentage points

NatWest has cut rates on its residential mortgages with some products reduced by as much as 2.5 percentage points.

The largest reductions include its five-year fixed remortgage deal at 60 per cent loan to value (LTV) which now has a rate of 1.88 per cent down from 4.44 per cent.

The alternative option at 75 per cent LTV has also seen a significant cut from 4.63 per cent to 2.23 per cent.

Both products have no fee and £500 cashback.

For purchasing customers, significant reductions have been made to two-year fixes and five-year fixes have gone down by over one percentage point.

First-time buyer offerings at 80 per cent LTV have also been decreased, the two-year fixed mortgage has been reduced to 2.53 per cent while the five-year alternative at the same tier is 2.73 per cent down from 3.38 per cent.

For borrowers purchasing through shared ownership or the Help to Buy scheme, two-year fixes have been reduced by 0.63 per cent and five-year fixes are down by 1.3 per cent. Rates now vary from 1.48 per cent at 60 per cent LTV to 2.2 per cent at 75 per cent LTV.

Mark Bullard, head of sales at NatWest, said: “I’m delighted that we are making reductions across a wide selection of LTV bandings that support numerous customer types; from first-time buyers, to those looking to purchase or for shared equity mortgages.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Six bank statement mistakes that can ruin a mortgage application

Being overdrawn and having a history of payday loans can be red flags to lenders when they...
Six bank statement mistakes that can ruin a mortgage application

Fancy fixing your mortgage rate for 40 years? Don’t forget about your pension

Super-long mortgages are becoming more popular but, if you need to make monthly repayments...
Fancy fixing your mortgage rate for 40 years? Don't forget about your pension

First-time buyers still facing significant deposit barrier

It's getting tougher for aspiring homebuyers as house prices rise faster than wages
First-time buyers still facing significant deposit barrier

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators