NatWest will raise its fixed-rate new business and existing customer rates by up to 20 basis points tomorrow (23 February).
The bank’s new business changes include:
- Purchase — rate increase of up to 15bps on selected two- and five-year deals
- Remortgage — rate increase of up to 15bps on selected two- and five-year deals
- First-time buyer — rate increase of up to 15bps on selected two- and five-year deals
- Shared equity purchase — rate increase of up to 10bps on selected two- and five-year deals
- Help to buy shared equity remortgage — rate increase of up to 10bps on selected two- and five-year deals
Its existing customer changes cover:
- Switcher — rate increase of up to 15bps and 20bps on selected two- and five-year deals
The move comes as HSBC and Santander are among major lenders to lift home loan rates this week, as swap rates have risen since the start of the year.
A two-year Sonia swap was 4.441% on 20 February, up from 4.260% on 22 January, according to Chatham Financial. Five-year rates have risen to 3.895% from 3.697% over the same period.
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