From Tuesday 16th June 2020 NatWest will be introducing rate decreases of up to 30bps across their existing customer range.

Mark Bullard, Head of Sales, said: “We’re delighted to be making further decreases to our existing customer range. I’m particularly pleased that we have been able to make these changes across a wide range of LTVs for both 2 and 5 year deals. We’re also pleased to be making these rate reductions on the back of the successful launch of additional borrowing platform, where our brokers now have the ability to request additional borrowing at the same time as completing a product switch for their customers”

A summary of the changes is as follows with full details below.

Existing Customers

  1. Core Range
  • Switcher: Rate reductions of up to 30bps on 2 year deals, across 60, 70 and 80% LTV Products
  • Switcher: Rate reductions of up to 30bps on 5 year deals, across 60, 70 and 80% LTV Products

Here’s a full list the changes with product codes in brackets together with details of the transitional arrangements

New Business

No Changes

 

Existing Customer

Core Range

Residential

Rate Changes

2 year fixed rate switcher

[FO23763] 60% LTV, decreasing by 15bps from 1.36% to 1.21%, product fee £995

[FO23764] 60% LTV, decreasing by 30bps from 1.82% to 1.52%, product fee £0

[FO23765] 70% LTV, decreasing by 15bps from 1.41% to 1.26%, product fee £995

[FO23766] 70% LTV, decreasing by 30bps from 2.72% to 2.42%, product fee £0

[FO23768] 75% LTV, decreasing by 30bps from 2.72% to 2.42%, product fee £0

[FO23767] 75% LTV, decreasing by 15bps from 1.41% to 1.26%, product fee £995

[FO23769] 80% LTV, decreasing by 15bps from 1.70% to 1.55%, product fee £995

[FO23770] 80% LTV, decreasing by 30bps from 2.89% to 2.59%, product fee £0

5 year fixed rate switcher

[FO23772] 60% LTV, decreasing by 30bps from 2.07% to 1.77%, product fee £0

[FO23771] 60% LTV, decreasing by 15bps from 1.53% to 1.38%, product fee £995

[FO23774] 70% LTV, decreasing by 30bps from 2.96% to 2.66%, product fee £0

[FO23773] 70% LTV, decreasing by 15bps from 1.67% to 1.52%, product fee £995

[FO23775] 75% LTV, decreasing by 15bps from 1.67% to 1.52%, product fee £995

[FO23776] 75% LTV, decreasing by 30bps from 2.98% to 2.68%, product fee £0

[FO23778] 80% LTV, decreasing by 30bps from 3.17% to 2.87%, product fee £0

[FO23777] 80% LTV, decreasing by 15bps from 2.11% to 1.96%, product fee £995

 

 

End dates

 

There are no changes to end dates

Transitional arrangements

You’ll be able to produce Mortgage Illustrations and submit applications online for existing deals up to 10:30pm Monday 15 June, 2020.

The supporting documentation for online applications on these products must be received in our Mortgage Centre in Birmingham by close of business on Monday 29 June, 2020

If you are unable to submit an application online due to a technical issue that cannot be resolved over the phone, then you must submit a paper-based application. In this instance, you must e-mail your BDM by midday on Tuesday 16 June 2020. Requests received after this time will not be considered.

Your email must include in bullet points:

  • Your details – name, company and postcode
  • Customer name
  • Product applying for
  • Amount of mortgage loan
  • Reason for paper application – If you have experienced a technical issue a clear description of the problem encountered with error code (if applicable) must be provided
  • State whether you were trying to submit via NatWest Intermediary Solutions’ website or the Mortgage Trading Exchange

Paper applications must be signed by all applicants and the original received at the following address by close of business on Thursday 18 June 2020 for your rate to be honoured:

 

 

FREEPOST NatWest Intermediary Solutions

Mortgage Centre

Cartsdyke Avenue

Greenock

PA15 1ED

For a complete listing of all our mortgage products, please visit the product page on our website.