NatWest intermediary interest only mortgage product withdrawal.
Residential interest only mortgage deals have been withdrawn by NatWest Intermediary Solutions. With immediate effect loans will only be made available on a capital repayment basis.
The lender advises that this is purely a temporary measure and interest only mortgage deals will be re-introduced in the near future.
Natwest's present 2 and 5 year semi-exclusive range will change to repayment products and mortgage rates will be as follows.
For a 2 year fixed option at 60 per cent loan to value a rate of 3.69 per cent will be offered for both new purchase and remortgage customers with a £999 fee.
For a 5 year fixed option at 60 per cent loan to value a rate of 4.09 per cent will be offered for both new purchase and remortgage customers with a £999 fee.
A spokesperson at NatWest Intermediary Solutions commented saying that the 2 and 5 year 60 LTV interest only mortgage products were withdrawn on 23 March with the corporate, core and AR exclusive range now only being available through intermediaries on a repayment basis.
While Natwest have suspended their interest only mortgage deals other lenders are offering competitive rates through Deal Direct. Contact our skilled brokers today for the best deals on offer.
