NatWest are cutting residential and buy to let mortgages rates up to 0.4%, in an attempt to continue the huge business volumes seen over the last 2 quarters through the quieter summer months.
For their residential mortgages, rates at 85% LTV will drop from 3.59% to 3.19%, and the 95% help to buy rates from 5.69% to 5.45%.
Their 5 year buy to let rates @ 60% LTV will reduce from 4.79% to 4.59%
Head of mortgage sales, Mark Bullard commented that intermediaries (brokers) are fuelling their continued development of business, and that he was “delighted we are able to introduce rate cuts to over 20 of our deals”.
“Our portfolio offers a broad spectrum of LTVs and tomorrow’s rate changes will cover both the higher and lower ranges in sectors that we have enjoyed much success this year, namely the Help to Buy mortgage guarantee scheme and buy-to-let.”