Natwest comment on how cashback deals have proven very popular with first-time buyers.
Natwest is introducing £500 cashback to a number of its core range 2 and 5-year residential mortgage purchase deals as well as making a number of rate changes.
The changes being made to a 2-year fixed rate purchase are as follows:
- 60% LTV, increasing by 1bp from 1.41% to 1.42% (3.5% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 70% LTV, increasing by 2bps from 1.41% to 1.43% (3.5% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 75% LTV, increasing by 3bps from 1.42% to 1.45% (3.5% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 80% LTV, increasing by 9bps from 1.49% to 1.58% (3.5% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 85% LTV, decreasing by 5bps from 1.72% to 1.67% (3.5% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 95% LTV, increasing by 15bps from 4.14% to 4.29% (3.9% APRC, 3.75% SVR), £0 product fee
Mark Bullard, head of Sales at Natwest, said: “Cashback deals have proven to be very popular with first-time buyers, so we are really pleased to be able to make these available to home movers as well, across a wide range of loan-to-value bandings.”
The changes being made to a 5-year fixed rate purchase are:
- 60% LTV, decreasing by 30bps from 2.12% to 1.82% (3.2% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 70% LTV, decreasing by 14bps from 2.23% to 2.09% (3.3% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 75% LTV, decreasing by 12bps from 2.23% to 2.11% (3.3% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 80% LTV, decreasing by 22bps from 2.48% to 2.26% (3.3% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 85% LTV, decreasing by 21bps from 2.63% to 2.42% (3.3% APRC, 3.75% SVR), £995 product fee plus £500 cashback
- 95% LTV, increasing by 16bps from 4.65% to 4.81% (4.3% APRC, 3.75% SVR), £0 product fee
