NatWest will be introducing free valuations on all Intermediary purchase and First Time Buyer exclusives. Coupled with this we are also introducing cashback on all Intermediary remortgage exclusives up to 90% LTV.

There are a significant number of changes to our products in relation to this communication, which are summarised below.

Semi-Exclusive Range

Purchase

  • Free valuations introduced on all Intermediary purchase and First Time Buyer exclusives. (please note free valuations are not available on Help to Buy Purchase as these  products are part of our core range)
  • 2 year rate increases of up to 9bps on fee based products.
  • 5 year rate increases of up to 13bps and £500 cashback on all products up to 90% LTV.
  • Rate reduction of 16bps on the 5 year 90% LTV no fee products.
  • 5 year First Time Buyer (FTB) sub-85% LTV products increased by up to 8bps and £750 cashback on 90% LTV.

Remortgage

  • Introduction of new fee based 2 year exclusive products at 85% and 90% LTV with £250 cashback.
  • 5 year rate increases of up to 13bps and £500 cashback on all products up to 90% LTV.

Buy to Let

  • Introduction of new 2 year exclusive products:
  • 60-75% LTV no fee purchase and 2 year 60% LTV fee remortgage.
  • 2 year rate increases of up to 20bps and decreases of up to 2bps (purchase and remortgage).
  • 5 year rate increases of up to 6bps and decreases of up to 7bps (purchase and remortgage).

Core Range

Residential

Purchase

  • Rate reduction of 5bps on the 2 year 60% LTV fee product.
  • Rate reduction of 15bps and £250 cashback on the 2 year 95% product.
  • 5 year products reduced by up to 7bps and £250 cashback applied to Shared Equity & Help to Buy Shared Equity.

Remortgage

  • Rate increases of up to 11bps and £250 cashback on 2 year 80% – 90% LTV fee based products.

Buy to Let

  • 5 year rate decrease of 4bps on 70% LTV fee purchase product.
  • 5 year rate decrease of up to 9bps on 70 & 75% LTV fee remortgage products with £250 cashback at 70% LTV.

End dates

  • 2 Year Term End Dates Moving from 31/12/2020 to 31/03/2021
  • 5 Year Term End Dates Moving from 31/12/2023 to 31/03/2024

As a responsible lender, we have been able to make these changes whilst ensuring that we maintain our risk appetite and the quality of business we accept.

Transitional arrangements

You’ll be able to produce Mortgage Illustrations and submit applications online for existing deals up to 10:30pm on Thursday 8th November 2018.

The supporting documentation for online applications on these products must be received in our Mortgage Centre in Birmingham by close of business on Thursday 22nd November 2018.

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 Friday 9th November 2018. 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 Tuesday 13th November 2018 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 web site.