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Starting tomorrow (February 24), NatWest will cut rates for its new business by 16 basis points for home purchases and 31 basis points for remortgage products.
High Street Bank says the changes include:
- Buy up to 16 basis points off and 11 basis points off select offers for 2 and 5 years.
- First buyer with discounts up to 16 basis points and 11 basis points on two- and five-year loans with an interest rate of 90% of the loan amount.
- Buy then rent at up to 26 basis points discounts and 30 basis points discounts on select deals for 2 and 5 years.
- Remortgage BTL at discounts up to 30 basis points and 31 basis points on select 2- and 5-year offers
- Purchase Green BTL at discounts up to 23 basis points and 21 basis points on select 2- and 5-year loans.
- And green remortgage BTL with discounts of up to 11 basis points and 31 basis points on select two- and five-year deals.
The lender says brokers must create mortgage illustrations and apply online for existing deals by 10:30 p.m. Feb. 23.
He adds that for packaging assistance, brokers should refer to the revenue and packaging guide.
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