Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
NatWest, Coventry BS and Skipton BS Announce Mortgage Rate Reductions
NatWest, Coventry Building Society, and Skipton Building Society have announced reductions to their mortgage rates. The changes affect a range of products, including residential, buy-to-let, and first-time buyer mortgages.
NatWest will introduce lower mortgage rates from 13 June, with reductions across purchase, remortgage, and further advance offerings. Notable changes include a fee-free two-year fixed rate at 60% loan to value (LTV) for residential purchase, cut by 13 basis points to 4.74%, and a five-year fixed counterpart reduced by 24 basis points to 4.6%. Other reductions apply to products with fees of £995 and £1,495, as well as to remortgage, shared equity, green, first-time buyer, and buy-to-let deals.
Skipton Building Society has reduced residential mortgage rates across the 60-90% LTV tiers for both fixed rate and tracker mortgages. These changes will take effect from 15 June, with rates cut by as much as 0.22%.
Coventry Building Society has also lowered pricing on residential and buy-to-let mortgage rates by up to 20 basis points. For example, a two-year fix for first-time buyers with no fee and £500 cashback at 90% LTV is now priced at 5.15%. A five-year fixed residential purchase at 75% LTV with a £999 fee is now at 4.6%.
These rate reductions may be of interest to letting agents and inventory clerks monitoring affordability and demand in the UK property market.
Source: Mortgage Solutions