The new mortgage offers a rate of 5.74% with a loan to value (LTV) of up to 75%. In addition, all customers taking advantage of the new 2 year fixed rate, will benefit from a reduced fee of £499 from £999 and a lower interest rate by up to 0.45%, compared with the previous RBS and NatWest 75% LTV deal.
The new 2-year fixed rate is available to those moving home, as well as remortgagers and existing RBS and NatWest customers looking to switch deals. Those who are remortgaging will also benefit from free legal and valuation fees. The new mortgage deal is available through RBS and NatWest branches, as well as by phone.
Announcing the new mortgage deal, Paul Geddes, CEO Retail Banking, commented: "We continue to grow our presence in the mortgage market, with lending to new customers up 28% year on year. We remain committed to making lending available to ensure we support our customers during these challenging economic conditions."
