NatWest revises mortgage range

To be eligible for either of these deals, clients will have to have an active NatWest or RBS current account.

The new deals are:

• 2 year fixed rate 2.89%, 60% LTV with a £999 fee, purchase only
• 2 year fixed rate 3.29%, 75% LTV with a £999 fee, purchase only

To be eligible for these deals a client must already have an active NatWest or RBS current account in which they have had:

• a minimum of the last three months’ salary, of at least £1,000, paid into their NatWest or RBS current account

If a client wants to apply for one of these deals on an interest only basis, in addition to meeting the NatWest or RBS current account criteria, they need to:

• earn a minimum of £50,000 pa gross basic salary (i.e. before any regular overtime/bonus income is taken into account). For joint applications, the main applicant must earn at least £50,000 gross basic salary.
• have a suitable repayment vehicle in place for the term of the loan. Standard repayment vehicles that are acceptable are endowments, pensions and ISAs/PEPs. Enhanced repayment vehicles can be used provided the applicant fulfils additional criteria.

Graham Felstead, head of intermediary channel, NatWest Intermediary Solutions said: “I am pleased that we are able to introduce these attractive new deals for existing NatWest or RBS current account customers and to offer an interest only option on them, up to 75% LTV, for clients who prefer this repayment route.”