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Natwest Launches New and Improved Mortgage Deals for Intermediaries
(29 July 2005)
NatWest today launches a new mortgage portfolio for the intermediary market. The range will see all fixed rates reduced as well as some table-topping* Buy to Let deals and excellent First Time Buyer products. This is a further move to cement NatWest's commitment to offering great mortgage deals via the broker channel.
As the buy to let market continues to thrive, the new NatWest Buy to Let (BTL) products will include a best in class 2-year Base Rate Tracker, with up 80% LTV and rate of base rate plus 0.79%. The BTL fixed rates have also been dropped with the 2-year down to 5.15% and the 5-year down to 5.49%.
With predictions that there are in excess of 360,000 - 430,000** first time buyers in the market each year, NatWest is leading the pack with great enhanced First Time Buyer (FTB) products that will prove helpful for those trying to get a foot on the property ladder. The new NatWest "FTB only” mortgages are the only ones on the market that offer no fees and cash back***. The 2-year fixed at a rate of 5.29% is fees assisted and comes with £200 cash back. Similarly, the 3-year fixed has a rate of 5.39%, is fees assisted and gives 1% cash back.
Charles Haresnape, Director of Mortgage Sales for NatWest, said: "Once again, we are pleased to be able to enhance our mortgage product portfolio for our intermediary partners. At NatWest, we realise that it is more important than ever to support brokers in being able to offer attractive deals that will meet the varying needs of their clients."
For more information on NatWest's mortgage range call 0845 302 0192 or visit natwest.com/intermediaries.
Notes to Editors:
| Deal | % LTV | Interest Rate | APR | End date | Notes |
|---|---|---|---|---|---|
| BTL - Two Year Base Rate Tracker | Up to 80% | BBR plus 0.79% | 7.4% C&I | 30.11.2007 | 10% annual overpayment option |
| BTL - Two Year Fixed | Up to 80% | 5.15% | 7.2% C&I | 31.10.2007 | 10% annual overpayment option |
| BTL - Five Year Fixed | Up to 80% | 5.49% | 7.2% C&I | 31.10.2010 | 10% annual overpayment option |
| FTB Only - Two Year Fixed | Up to 95% | 5.29% | 7.0% C&I | 31.10.2007 | Free valuation, no reservation fee, £200 cash back on completion, 10% annual overpayment option, legal and survey fees can be added to the loan up to the maximum LTV. |
| FTB Only - Three Year Fixed | 90%-100% | 5.39% | 7.0% C&I | 31.10.2008 | Free valuation, no reservation fee, 1% cash back on completion, 10% annual overpayment option, up to £1,000 legal and survey fees can be added the loan. |
* Buy to let 2 year tracker deal featured in Moneyfacts Best buy tables
**
Figures from the Council of Mortgage Lenders
***Based on Mortgage Sourcing Systems