The new mortgage comes amid uncertainty surrounding rising interest rates and, as a result, customers are keen to take out fixed products. This new limited edition mortgage deal is highly competitive with its 5.79% fixed rate and only requires a product fee of GBP499, the bank said.
Other features of the mortgage product include an annual 10% overpayment option, which means that, every year, customers can overpay by a maximum of 10% of their outstanding mortgage balance without incurring an early repayment charge, and it is available with up to 75% loan to value. The product is available to customers who apply online or over the phone.
Guy Aldwinckle, head of NatWest mortgages, said: NatWest is constantly looking to improve its mortgage range and offer customers a choice of how they do business with us, so we’re pleased to be able to introduce this limited edition direct-only deal which is cheaper than our standard fixed rate. Pressure is high for competitive fixed rates and indeed consumers are becoming more demanding about the way they want to buy their financial products and shopping direct is increasingly popular.
