NatWest offering 1.49% tracker rate mortgage

by Aaron Strutt

Jul 15 2016

NatWest for Intermediaries is offering a low 1.49% purchase-only tracker, priced at 0.99% over the NatWest Bank base rate until 30 September 2018. 

At the end of the tracker period, the mortgage reverts to the lender’s standard variable rate which is currently 4%. The overall cost for comparison is 3.8% APR.

Aaron Strutt, product director at Trinity Financial, says: “NatWest has increased this rate 0.2%, but it is still very competitively priced. There is a good chance it will get cheaper over the next few months.

“It is worth noting that this mortgage does track the NatWest bank rate and not the Bank of England base rate. If the Monetary Policy Committee reduces the base rate from the record low of 0.5% over the coming months, it is highly likely NatWest will pass on the full reduction.”

The 1.49% mortgage provided by NatWest has a £999 arrangement fee and early repayment charges for the first two years. Applicants will need a 40% deposit to qualify, and there is no set maximum loan size. 

For help to secure a tracker rate mortgage, call Trinity on 020 7016 0790.