NatWest relaunches 85% LTV mortgages and raises rates on Core range

NatWest has reintroduced 85% loan-to-value (LTV) products, available for both purchases and remortgages.

The summary of the rates for purchases are as follows: 2-year fixed – 1.94% with £995 fee and £250 cash back; 2-year fixed – 2.95% with no fee; 5-year fixed – 2.34% with £995 fee and £250 cash back; and 5-year fixed – 3.39% with no fee.

The rates for remortgages are: 2-year fixed – 1.94% with £995 fee and £250 cash back; 2-year fixed – 2.90% with no fee; 5-year fixed – 2.34% with £995 fee and £250 cash back; and 5-year fixed – £3.18% with no fee.

NatWest Intermediary Solutions temporary withdraws residential Exclusive products

Additionally, from 24 July NatWest Intermediary Solutions will introduce changes, including interest rate increases, to its Core product range for new business customers.

85% LTV products are being reintroduced, initially through NatWest’s direct channels, followed by the intermediary channel in the coming weeks.

The rate changes are as follows: increases for purchases of up to 10bps on selected 2-year deals; increases for remortgages of up to 7bps on selected 2-year deals and up to 9bps on selected 5-year deals; rate increase for high value remortgages of 7bps on 70% LTV 2-year deal and up to 8bps on selected 5-year deals.

Lloyd Cochrane, head of mortgages at NatWest, said: “We know that the recent uncertainty in the housing market has created difficulty for people seeking to own their own home, and we’re pleased to be reintroducing these new rates to support the aspirations of homebuyers play our part in supporting the housing market.”