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NatWest adds 0.14% to 2.95% 5-year fix to stem demand

NatWest Intermediary Solutions is increasing its 2.95 per cent five-year fixed rate mortgage up to 60 per cent LTV by 14 basis points to 3.09 per cent.

The lender launched the product, which has a £2,495 arrangement fee, on 30 July, after both HSBC and Santander launched direct-only five-year deals at 2.99 per cent up to 60 per cent LTV.

Brokers have until 10.30pm tonight to produce KFIs and submit applications online for the existing deals.

The supporting documentation for online applications must be received by the lender’s mortgage centre in Birmingham by close of business on 25 September.

The lender is also withdrawing three two-year trackers. The 3.19 per cent, 3.5 per cent and 3.89 per cent trackers are available at 60 per cent, 75 per cent and 80 per cent respectively.

A spokesman says: “It has been a popular product and you have to balance the mix of business you receive as a lender in order to maintain service standards.”

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