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NatWest&#39s &#39lowest fix for 20 years&#39

NatWest is offering two new fixed-rate mortgages aimed at new and existing borrowers.

Its two-year loan is set at 3.99 per cent and the five-year rate is 4.69 per cent.

The booking fee for both is £295. There are no tie-ins beyond the fixed-rate period and no legal or valuation fees. Loans are available up to 95 per cent loan to value.

The redemption penalty for the two-year loan is 2 per cent in the first year and 1 per cent in the second. For the five-year loan, the penalty is 5 per cent in the first year, falling by 1 per cent each year to reach 1 per cent in the fifth year. The procuration fee is negotiable.

Media relations Ian Villiers says: “Fixed-rate mortgages are very attractive right now and this is the lowest fixed rate we have offered for 20 years. With an interest rate of 3.99 per cent, the two-year loan is one of the most competitive on the market.”

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