Royal Bank of Scotland and NatWest Reduce Mortgage Rates on 100 Mortgages

Royal Bank of Scotland (RBS) and NatWest have reduced rates on a new line of fixed-rate mortgage products.

NatWest who is owned by Royal Bank of Scotland new range of products are offered to new customers looking to purchase a home with a Loan-to-value (LTV) of 60 percent to 75 percent, or 35 to 40 percent deposit of the property value, this basically knock’s most first time buyers out of the market unless they have the huge deposit required to put down.

The fixed-rate deal is available from both RBS and NatWest for two year and five year products, on offer is a two-year fixed rate mortgage deal with a 60 percent LTV, hold’s an arrangement fee of £799 with a rate cut of 0.75 percent lowering the interest rate to 4.99 percent.

If you would prefer to take the fixed rate deal out for a longer term, the five-year fixed with a 75 percent LTV, will cost you £999 for the arrangement fee with the interest rate being cut by 0.65 percent to 5.09 percent.

Some experts suggest its worth looking into your mortgage deal, if you are on a high rate deal and your redemption penalties are not too high, it may be worth exiting the current deal and moving into one of the newer lower rates. It’s always advisable to seek professional advice.

Source: mortgage.org

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