NatWest Intermediaries and TSB will make rate hikes and cuts from 3 October, with brokers urged to submit existing applications before the deadlines.

NatWest Intermediaries is making a combination of rate increases and reductions across its new business, existing customer and additional borrowing (ADBO) ranges from 3 October.

Brokers will be able to generate mortgage illustrations and submit applications on existing products until 11:59pm on 2 October. Applications must be fully submitted by the deadline. Otherwise, brokers will need to select a product from NatWest’s new range.

New existing customer and ADBO products will be available through the lender’s broker portal from 3 October.

NatWest is also directing brokers to its income and packaging hub for support with packaging cases.

TSB is also making selected rate increases to its residential mortgage range on 3 October.

The lender has advised brokers to submit existing applications for affected products by the end of 2 October, as those products will no longer be available after this time.

Rates are increasing by 0.05 percentage points on two-year fixed house purchase products at up to 80% LTV and five-year fixed house purchase products at up to 90% LTV.

Rates on three-year fixed house purchase products are increasing by up to 0.15 percentage points, while two-year fixed remortgage products at up to 75% LTV will rise by 0.05 percentage points.

TSB is also increasing rates on three- and five-year fixed remortgage products by up to 0.10 percentage points.

The lender said its new product guide would be available to download from its website on the afternoon of 2 October.

TSB also reminded brokers that new build lending is available up to 95% LTV, or 85% LTV for flats and maisonettes. Its large loans team is available for loans above £750,000.

Average two- and five-year fixed rate mortgage prices are on the brink of hitting 6%, according to the latest Moneyfacts rate watch.