NatWest has become the latest lender to announce rate increases to its new business, existing customer and additional borrowing product ranges, effective tomorrow.
Two-year fixed purchase rates ranging between 60% and 95% loan-to-value (LTV) have increased by up to 35 basis points, with the majority going up by 25bps.
The 60% LTV two-year fixed purchase has gone up from 3.72% to 3.97% and has a product fee of £1,495, while the 95% LTV two-year fixed purchase has risen from 4.7% to 5.07% with no fee.
The lender’s five-year fixed purchase rates have risen between 60% and 95% LTV by up to 0.30%, including the 95% LTV which has been hiked by 4.79% to 5.09% with no fee and the 60% LTV which is going up by 25bps to 4.32% also with no fee.
Remortgage rates will also rise. The two-year fixed rate remortgage 60% LTV with no fee will rise from 4.13% to 4.38%, the two-year 75% with a fee of £1,495 has been lifted from 3.89% to 4.09%.
Five-year fixed remortgage rates have also been hiked. The 60% LTV with a fee of £995 has gone up by 25bps to 4.19% and the 60% LTV with a fee of £1,495 has been lifted 25bps to 4.14%.
First-time buyer two- and five-year fixed remortgage rates have also increased by as much as 25bps while shared equity two- and five-year fixed rates have gone up by the same amount and green rates on two- and five-year fixed rates on purchase and remortgage have risen by 25bps.
NatWest has also increased rates on buy-to-let (BTL) two- and five-year fixed rate purchase and remortgage products.
The BTL two-year fixed purchase at 75% LTV with a fee of £3,499 has risen by 25bps to 3.88% and the 75% LTV with a fee of £3,999 has been lifted from 3.38% to 3.63%.
Five-year fixed remortgage rates at 75% LTV with a fee of £5,999 have risen by 25bps to 4.19% and the 60% LTV with a fee of £5,999 has gone up from 3.66% to 3.91%.
Finally, standalone additional borrowing rates have been hiked by up to 25bps across two- and five-year fixes.
Yesterday, Aldermore announced that it would be withdrawing two- and three-year fixed rates across its residential owner occupied, buy-to-let and product switch mortgage range.
Aldermore said it would be launching new product ranges on 13 March.
