NatWest’s cheapest £500,000+ mortgage priced at 1.38%
NatWest for Intermediaries is offering some of the most competitively priced £500,000+ two and five-year fixed rate mortgages across the market.
The banks lowest rate is a purchase-only fix at 1.38% until 31 October 2021, and once the rate expires, it reverts to the lender’s 4.24% standard variable rate. The overall cost for comparison is 3.81% APRC representative.
Aaron Strutt, product director at Trinity Financial, says: “If you are looking for a cheap two-year fix over £500,000 then NatWest is offering some great rates. The bank's five-year fix rate is 0.46% more expensive than the two-year fix.
“Our brokers have access to NatWest specialist large loan underwriting team, and they have the ability to agreed large mortgage loans quickly and efficiently.”
NatWest’s two-year rate has early repayment charges and a £995 arrangement fee. Applicants will need a 40% deposit to qualify.
Representative example: A mortgage of £500,000 payable over 25 years, initially on a fixed rate until 31/10/2021 at 1.38% and then on a variable rate of 4.24% for the remaining 23 years, would require 26 monthly repayments of £1,971.61 followed by 274 monthly repayments of £2,641.40. The total amount repayable would be £777,702.96 made up of the loan amount, plus interest (£275,005.46) and fees of £995. The overall cost for comparison is 3.81% APRC representative.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
To secure a fixed rate mortgage call Trinity Financial on 020 7016 0790
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