NatWest latest lender to start increasing rates

NatWest Intermediary Solutions will be increasing its mortgage rates by up to 14 basis points (bps) amid signs that rates are rising generally.

Figures published yesterday by Moneyfacts suggested that fixed-rates have started to creep upwards in recent weeks.

Now NatWest has increased the rates on its £995 fee 60% LTV residential mortgage deals by between 6bps-14bps.

Paul Kane, acting head of sales at NatWest Intermediary Solutions, defended the mortgage rate increases.

“Despite these small increases, our deals still represent great value for brokers and their customers.

“We are committed to offering intermediaries a competitive product range so I am pleased to report that all our other rates remain unchanged.”

The changes have been made to NatWest's residential deals for purchases and remortgages, which carry a £995 product fee.

Two-year fixed rate to 60% LTV up 14bps from 1.45% to 1.59%.

Three-year fixed rate to 60% LTV up 6bps from 1.93% to 1.99%.

Five-year fixed rate to 60% LTV up 11bps from 2.23% to 2.34%.

Two-year tracker to 60% LTV up 14bps from 1.35% to 1.49%.