NatWest has increased rates for new customers, existing customers and additional loan products.
The lender’s rate increases include two-year fixed rate purchase products, with the 60% LTV product with a £995 fee increasing by 11 basis points to 3.75% and the 60% LTV product with a £1,495 fee increasing by 11 basis points to 3.70%.
Purchase products with a five-year fixed interest rate have also increased. The 80% LTV product with a fee of £995 is up 24 basis points to 4.20%, while the same product with a higher fee of £1,495 is up 24 basis points to 4.15%.
NatWest has also increased prices on remortgage products. The two-year fixed rate on 75% LTV with a £995 fee has increased by 18 basis points to 4.04% and the 75% with a £1,495 fee has increased by 18 basis points to 3.99%.
In addition, the five-year fixed rate remortgage products at 75% LTV with a fee of £995 and £1,495 have both increased by 12 basis points.
Rates for two- and five-year fixed-rate entry-level products have also increased by as much as 14 basis points and 18 basis points, respectively.
The two- and five-year fixed rate share purchase products also increased by 11 and 12 basis points respectively.
Green purchase rates have risen by as much as 12 basis points, while green remortgage prices have risen by as much as 18 basis points.
The lender’s buy-to-let (BTL) products have been improved, including the two-year LTV with a 75% LTV without fee, which has increased from 4.39% to 4.49%, and the five-year LTV with a 60% LTV without fee, which has increased from 4.25% to 4.35%.
Meanwhile, BTL remortgage products such as the two-year at 65% LTV with a £1,499 fee, which has increased from 3.88% to 3.98%, and the five-year at 75% LTV with a £995 fee, will rise from 4.29% to 4.39%.
NatWest has also raised rates on its standalone supplemental loan products, with two-year rates rising by as much as 9 basis points and five-year rates rising by as much as 3 basis points.
Elsewhere, Metro Bank has reduced rates by up to 40 basis points across its residential and BTL product range, including its Near Prime and Large Loan residential range.
For existing and new customers moving, Metro Bank has reduced all two-year products by 0.4%.
For existing and new customers needing a large loan (over £1 million), the lender has made 0.4% cuts on two-year products with an LTV of 85% or less.
Across Metro Bank’s near-prime range, rates have been reduced by up to 0.3% for new and existing customers.
Meanwhile, for existing or new personal and joint-stock borrowers, the company has revised its core BTL range by up to 0.4%.
Charles Morley, mortgage distribution director at Metro Bank, comments: “As a specialist lender, we continually assess the competitiveness and criteria of our product range, across both our residential and buy-to-let offerings.”
“Today’s repricing is just one way we plan to meet the needs of brokers and borrowers, in addition to our industry-leading criteria and customer service.”