NatWest Bank has announced rate changes and simplification of its new customer product range, effective from 16th June.
These changes are designed to maintain service levels customers expect in response to current market conditions. Purchase products up to 95% LTV will continue to be available.
The bank’s simplification measures affect a wide range of LTV mortgage products. Among them, the pricing of selected products for both 2- and 5-year deals in the purchase, remortgage, and first-time buyer categories is being aligned up to a 90% LTV threshold.
Similarly, the pricing of selected 2- and 5-year deals in the shared equity – purchase and Help to Buy Shared Equity – remortgage categories is being aligned up to 75% LTV.
Additionally, NatWest is adjusting its buy-to-let sector offerings with a range of ‘Green Purchase’ and ‘Green Remortgage’ products spanning from 65% to 75% LTV, which also includes ‘no free legals’ products.
New business rate changes are also taking effect. In the purchase sector, a rate increase of up to 0.28% has been applied to selected 2-year deals, and 0.25% on selected 5-year 75% LTV deals. Meanwhile, the remortgage category will see a rate increase of up to 0.34% and 0.45% on selected 2-year and 5-year 75% LTV deals respectively.
Changes also impact the shared equity – purchase, with a rate increase of up to 0.13% and 10bps on selected 2-year and 5-year 75% LTV deals, respectively. Help to Buy Shared Equity – Remortgage has undergone a rate increase of up to 0.19% and 0.30% on selected 2-year and 5-year 75% LTV deals, respectively.
