NatWest has tweaked its mortgage rates with both cuts and decreases across select deals.
Applying to its new business offering from 27 January, NatWest has increased the two-year fixed residential purchase rate at 60% loan to value (LTV) with a £995 fee from 4.32% to 4.38%.
The high value alternative has increased by the same amount to 4.48%.
Increases of 0.06% have also been made to the two-year fixed purchase products at 60% and 75% LTV, both with a £1,495 fee, now 4.33% and 4.5% respectively.
NatWest’s two-year fixed purchase product at 75% LTV with a £995 fee has also gone up by 0.06% to 4.55%, while the fee-free deal has been raised by 0.07% to 4.85%.
At the higher 80% LTV band, the lender has cut the rate of purchase products by 0.05%, with the fee-free option now 4.95% and the deal with a £995 fee now 4.69%.
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Other two-year fixed purchase options at 85% and 90% LTV have been cut by as much as 0.1%.
Across its two-year fixed remortgages, increases of 0.1% have been made to deals at 60% LTV and 0.11% to options at 75% LTV.
At 80% and 85% LTV, NatWest has increased two-year fixed remortgage rates by as much as 0.1%.
Elsewhere, the bank has increased select five-year fixed purchase rates by as much as 0.16%, with the largest increase made to its 60% LTV deal with a £995 fee which is now 4.28% and the option with a £1,495 fee which is now 4.23%.
At 80% to 90% LTV, NatWest has cut select five-year fixed purchase product pricing.
Rates have gone up by as much as 0.17% across its five-year fixed remortgages, including options at 60% to 85% LTV, either with a fee or no fee, for standard and high value borrowers.
Additionally, the lender has increased rates on its shared equity mortgages at 60% and 75% LTV by up to 0.16%, Help to Buy shared equity rates by as much as 0.17%, and green residential mortgages by up to 0.16%.
NatWest cuts rates for first-time buyers
For its first-time buyer borrowers, NatWest has dropped two- and five-year fixed rates by up to 0.1%.
This applies to deals at 85% and 90% LTV, with the two-year fix at 85% LTV with a £995 fee and £250 cashback now priced at 4.69%. This follows a drop of 0.09%.
The five-year fix with no fee and £250 cashback now has a rate of 4.65% after a reduction of 0.04%.
Melton BS lowers 80% LTV rates
Melton Building Society reduced rates across its 80% LTV fixed rates for residential borrowers, applying to two- and five-year deals.
Reductions of up to 0.2% have been made, and its two-year fix now has a rate of 4.9% while the five-year fix is priced at 4.59%.
Both options have no application fees and a free basic valuation. Cashback of £500 has also been added to the five-year fixed deal.
These changes come after Melton Building Society updated its self-build lending criteria and launched an exclusive product for self-employed borrowers.
William Bell, product manager at Melton Building Society, said: “As a mutual building society with 150 years of experience in supporting both savers and borrowers, we recognise the importance of offering consumers good value.
“By introducing these rate changes we are hoping to provide more opportunities for brokers to assist their clients in achieving their homeownership ambitions and give confidence to prospective borrowers to take the plunge into their next move.”
