Natwest mortgage rates reduced

Date:Tuesday 25th November 2008
Author: Max Freedman

Natwest and Royal Bank of Scotland fixed-rate mortgage rates have been reduced in a new range of products.

The new mortgages are available to new customers needing loans-to-value (LTVs) of 60 per cent to 75 per cent.

Furthermore, they are available for two or five years.

A two-year fixed-rate mortgage on an LTV of 60 per cent will have a rate of 4.99 per cent, representing a 0.75 per cent reduction, as well as a fee of £799.

A similar deal but for an LTV of 75 per cent will also fall by 0.75 per cent to reach 4.99 per cent, with a £999 fee.

For a five-year deal, the rate is being cut by 0.65 per cent to reach 5.09 per cent for those with an LTV of 75 per cent, with a fee of £999.

Recently, the Times reported that mortgage holders on costly fixed-rate deals taken out at the peak of the credit crunch may be better off ending the deals early, even with exit and remortgage fees taken into account.