Virgin and Natwest reveal further changes.
Starting March 6, major lenders Virgin and NATWEST announced tax rates changes.
Virgin has confirmed an exclusive purchase mortgage, with 80% of LTV two-year and five-year fixed rates lowered to 0.09%, starting at 4.37%, and 80% of LTV fixed and switch fixed rates lowered to 0.07%, to 4.92%, and revamped five-year fixed rates lowered to 0.10%, starting at 4.87%, and having a new two-year and five-year fixed rates lowered to 0.10%, starting at 0.50%.
For purchase transactions, the changes include a 0.10% reduction in the two-year fixed rate starting at 4.47%, and a 0.10% reduction in the five-year fixed rate starting at 4.34%.
Green two- and five-year fixed rates will be reduced from 4.30% to 0.14%.
For renewals, the maximum of two-year fixed interest rates is 0.10%, starting at 4.43%, and the five-year fixed interest rate will be reduced to 0.10%, starting at 4.34%.
For exclusive BTL, 60% and 75% LTV two-year fixed interest rates and 1% fees will be reduced to 0.05%, starting at 4.40%.
Similarly, 60% and 75% LTV two-year fixed interest rates are 3%, and the fees will be reduced to 0.10%, starting at 3.59%.
Green transaction cashback has been deleted and now has only a free valuation.
Changes in NATWEST rates include two-year fixed rate purchases of 60% LTVs from 4.46% to 4.41% for its core range residential property, with a reduction of £0
While its two-year fixed interest rate purchases 90% LTV, while 8bps increases from 5.20% to 5.28%, the product costs £0
For its two-year fixed rate refund of 60% LTV, 2bps is reduced from 4.61% to 4.59%, product charges are £0, and cash back is £250.
While for 90% of LTV, the rate increased from 5.23% to 5.28%, the product costs £995 and the cash back £250.
For lenders’ five-year fixed rate refund, 90% of LTV, the interest rate increased from 4.94% to 4.99% and the product cost was £995.
First-time buyer homes for NATWEST biennium fixed interest rates, increasing from 4.98% to 5.03%, product costs £995, cash back £250
FTB buys 90% LTV for five years fixed interest rates, which increases from 4.67% to 4.74%, with a product fee of £995 and a cashback of £250.
