Mortgage Strategy - NatWest raises prices again

NatWest is raising rates again for the second time in less than a week.

The lender is increasing new business, product transfer and additional borrowing rates tomorrow after previously raising prices on Friday.

Many deals across its new business range are going up by 28 basis points.

Trinity Financial product and communications director Aaron Strutt told Mortgage Strategy: “NatWest is the latest big lender to raise rates but this time its fixes and trackers are both going up.

“NatWest’s two-year fixes are pretty much the cheapest in the market and its best buy 4.47% mortgage is rising to 4.75%.

“Tracker rates look much better value for money at the moment than many of the fixes, especially if you think the Bank of England base rate will have to come down this year rather than go up.

“NatWest is increasing its lowest tracker rate by 28bps from 4.19% to 4.47%. Nationwide still has a 4.5% two-year fix for home movers and Halifax has a 3.96% two-year tracker, which is 0.21% over the Bank of England base rate.

“More of the bigger lenders are still pushing up their fixed and tracker rates and we do seem to be edging closer to the lowest fixes being priced between 4.75% and 5%.”

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The information contained within was correct at the time of publication but is subject to change.

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