NatWest cuts resi and BTL rates – Mortgage Strategy

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NatWest has made a number of cuts to its buy-to-let (BTL) and residential mortgages for both new customers and existing customers.

Highlights of these changes are as follows:

For new business, in its core range, the 75% LTV two-year fix for purchase has been cut by 15 basis points to 4.63%.

And the 75% LTV five-year fix for purchase has been reduced by 19 basis points, to 4.19%.

Meanwhile, for remortgage, the 90% LTV two-year fix has been cut by 17 basis points, to 5.06% and the 60% LTV five-year fix, which comes with £250 cashback, has had 20 basis points removed, taking it to 4.04%.

Highlights within the lender’s first-time buyer (FTB) range comprise the 90% LTV two-year fix with £250 cashback being cut by 14 basis points, to 5.09% and the 85% LTV five-year fix, also with £250 cashback, receiving a 14 basis points cut to 4.43%.

The shared equity range has seen cuts of up to 15 basis points in its two-year fix selection and, within its five-year fix range, cuts of up to 19 basis points.

Remaining on the FTB theme, NatWest’s Help to Buy scheme products for purchase have seen cuts of up to 15 basis points in its two-year fixes and of up to 19 basis points for its five-year fixes.

Green mortgages have seen cuts 19 basis points for purchase and 20 basis points for remortgage.

For Help to Buy remortgaging, its five-year fixes have received reductions of up to 20 basis points.

All of the above picked out changes include a £995 product fee.

As stated above, the lender has also made changes to its BTL range.

For purchase, highlights include the 75% LTV two-year fix with zero product fee being cut by 25 basis points, to 5.64%. This same change occurs for the remortgage version of this product.

In its five-year fixed rate range, the standout cut takes place at 60% LTV for purchase use, which charges no fee and has been reduced by 20 basis points to 4.99%.

For BTL green mortgages, potential borrowers can enjoy cuts of up to 12 basis points for two-year fixes for purchase and remortgage and cuts of up to 17 basis points for five-year fixes for both purchase and remortgage.

Repricing for existing customers has taken place, too.

Here, switcher two-year fixes have seen cuts of up to 28 basis points and five-year fixes have been reduced by up to 25 basis points.

And BTL switcher rates have been cut by up to 28 basis points.

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