NatWest and RBS bring new remortgage deal to the market Go compare with our comparison table

NatWest and RBS bring new remortgage deal to the market

05 October 2010 / by Rachael Stiles

NatWest and RBS are launching two new mortgage deals, available from today, which include a home loan for remortgage customers.

The new remortgage deal is available at a fixed rate of 2.75% for two years, and customers can borrow up to 50 per cent loan to value.

The remortgage, which is only available to new NatWest or RBS mortgage customers, has no arrangement fee, and also comes with £250 cashback upon completion. 

The two banks, jointly owned, are also offering a new five year fixed rate mortgage, with an LTV of up 60 per cent and a rate of 4.39 per cent; this deal also has no fee, and is available to new and existing customers by telephone only.

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RBS Mortgage Deal Selection - Call Direct

Provider

Type

Initial Rate

Initial Term

Overall Cost for Comparison

Max LTV*Product Fee 
Flexible Offset,
(Purchase and remortgage)

4.00%

Reverts to 3.75%

N/A

3.70%

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.70% APRC. This is the cost of the mortgage over the full term.
Tracker

2.44%

Reverts to 3.75%

2

Years

3.80%

70%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term.

Representative Example:


A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.


The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).


In this example the overall cost for comparison is 3.7% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.