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NatWest increases rates on mortgages for those with large deposits

Christina Hoghton
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Christina Hoghton

The lender has raised the cost of its mortgages between 60-75 per cent of the property’s value and added new switcher mortgages

Natwest has increased the rates on a slew of products by 0.10 percentage points.

Changes apply to two and five-year fixed purchase and remortgage products for residential, shared ownership, shared equity, green and existing customer ranges.

These include the increase of its sub-one per cent mortgages, in line with changes seen from other mainstream lenders in recent days.

Its 60 per cent loan to value (LTV) purchase mortgage, fixed for two years with a £995 fee and £150 cashback, now has a rate of 1.08 per cent up from 0.98 per cent.

The remortgage equivalent has been increased from 0.93 per cent to 1.03 per cent.

Across its green mortgages, the two-year fixed at 60 per cent LTV with a £995 fee and £250 cashback has risen to 1.07 per cent. The remortgage option has gone up to 1.02 per cent.

The lender has also added switcher products including two-year fixes from 60 to 75 per cent LTV. Rates vary from 0.95 per cent to 1.09 per cent and they come with a £995 fee.

For a five-year fixed switcher deal at 60 per cent LTV with a £995 fee, this is priced at 1.14 per cent.

The two-year fixed switcher products with rates between 0.84 per cent at 60 per cent LTV and 0.99 per cent at 75 per cent have been withdrawn. As have the five-year fixed switchers at 60 per cent LTV for high value and standard borrowers with rates of 1.03 and 1.04 per cent respectively.