Natwest and TSB rejig mortgage rates – round-up

Natwest has raised the interest rates for new borrowers who opt for a two-year tracker by up to 0.4 per cent. On the other hand, some mortgage rates have gone down by as much as 0.24 per cent, which is only open to a select group of people.

The rate for the two-year tracker has gone up significantly for the option that comes with a £995 fee and requires a 60% loan to value ratio. It used to be 5.39%, but now it is 5.79%.

There are now options available that don't require fees and are available for loans between 60% and 90% loan-to-value. The interest rates have gone up by a maximum of 0.09%, and they range from 6.18% to 6.38%.

Natwest has recently announced a decrease of 0.24% on their standard residential products for both five-year fixed purchase and five-year fixed remortgage.

One of the mortgage options available is the five-year fixed remortgage with a 90% loan-to-value ratio. This offer does not have any fees and grants £250 cashback. The interest rate for this option has decreased by 5.54%, to 5.3%. Another alternative available is the same offer with no cashback, which also lowered its interest rate to 5.3%.

Natwest has decreased the rates for five-year fixed purchase shared equity by a maximum of 0.07 percent. Additionally, the rates for five-year fixed remortgage through Help to Buy have been reduced by up to 0.13 percent.

The rates for five-year fixed purchase and remortgage options for green mortgages have fallen by up to 0.13 percent.

The borrower rates have not been altered or modified in any way.

Natwest's rates will be revised on March 21st.

The bank joined forces with the British Mortgage Awards as reported on March 19th.

TSB Increases Mortgage Rates

TSB has raised certain mortgage rates, like the ones for fixed-term deals that last two, three, and five years. These rates have gone up by a maximum of 0.25%.

To illustrate, the remortgage deal that is fixed for two years and has a loan-to-value (LTV) ratio ranging from 60 to 75 percent can now be obtained at a rate of 4.94 percent if you pay a fee of £995. Alternatively, you can opt for a rate of 5.34 percent with no fee.

At present, the rates for five-year fixed remortgages start at 4.99% if the loan-to-value (LTV) is between 75-80%, with a fee of £995. Alternatively, if there is no fee involved, the rate increases to 5.19%. For an 85-90% LTV with no fee, the rate goes up to 5.29%.

The fees for the bank's product transfer options, which have a fixed duration of two, three, or five years, have gone up by as much as 0.2 per cent. The rates for borrowing more money during the same fixed periods have also gone up, with increases of up to 0.1 per cent.

New TSB rates will take effect on March 20th.

Shekina works as the commercial editor at Mortgage Solutions, which is a publication related to the B2B industry. She has worked in this field for more than four years and has gained experience in several different industries such as accounting, pet, funeral, hospitality, retail, and jewelry. Currently, her job involves informing readers about what's happening in the mortgage market as well as creating sponsored content for financial clients. Follow her on Twitter by searching for @ShekinaMS.