NatWest is bringing back 85 per cent loan-to-value deals and increasing rates on a number of products.

The lender says it will first reintroduce 85 per cent deals via its direct channels before relaunching them through brokers in the coming weeks.

NatWest is also putting up rates on a number of deals within its core range for new residential customers on Friday. 

For purchase:

• Its two-year fixed at 70 per cent LTV is increasing by 7 basis points from 1.23 per cent to 1.3 per cent with a £995 product fee and £250 cashback.
• Its two-year fix at  =75 per cent LTV is increasing by 10bps from 1.24 per cent to 1.34 per cent, product fee £995, cashback £250.

For remortgage:

• Its two-year fix for high value properties at 70 per cent LTV is increasing by 7bps from 1.24 per cent to 1.31 per cent, product fee £995.
• Its standard two-year fix at 70 per cent LTV is increasing by 7bps from 1.25 per cent to 1.32 per cent, product fee £995 and the same rate is on offer at 75 per cent LTV.
• Its five-year fix for high value properties at 70 per cent LTV is increasing by 8bps from 1.45 per cent to 1.53 per cent, product fee £995 and the same rates apply at 75 per cent LTV.
• Its standard five-year fix at 70 per cent LTV, increasing by 9bps from 1.50 per cent to 1.59 per cent, product fee £995 and the same rates apply at 75 per cent LTV.

Brokers will be able to produce mortgage illustrations and submit applications online for existing deals up to 10.30pm this evening, Thursday 23 July.

Advisers who are unable to submit an application online due to a technical issue that cannot be resolved over the phone, may submit a paper-based application. 

In this instance, brokers must email their BDM by midday on Friday 24 July 2020.