NatWest will raise fixed-rate prices across new business and existing customer product ranges by up to 15 basis points, while Halifax also announced it will lift residential loan offers tomorrow (9 February).
The move comes after TSB, Accord Mortgages and Precise Mortgages were among a raft of lenders who said they would raise prices today, as swap rates lift.
NatWest’s changes cover:
New Business
- Purchase — rate increase of 5ps and 11bps on 90% LTV two- and five-year deals
- Remortgage — rate increase of up to 10bps on selected two- and five-year deals
- First time buyer — rate increase of 5ps and 11bps on 90% LTV two- and five-year deal
- Help to Buy shared equity, remortgage — rate increase of up to 10bps on selected two- and five-year deals
- Green, remortgage — rate increase of 5ps and 10bps on selected two- and five-year deals
Existing customer rate
- Switcher — rate increase of up to 5ps and 15bps on selected two- and five-year deals
Meanwhile, Halifax says it will lift a range of homebuyer, remortgage and product transfer offers.
Its changes cover:
- Homebuyer products, including FTB, large loans, new build and affordable housing – shared equity/shared ownership and equivalent green home products
- Remortgage products, including large loans, affordable housing – shared equity/ shared ownership and equivalent green home products
- Product transfer and further advance products
Home loan price rises from lenders come after swap rates have risen in recent weeks
A two-year Sonia swap was 4.360% on 6 February, up from 4.165% on 8 January, according to Chatham Financial. Five-year rates have risen to 3.788% from 3.580% over the same period.
John Charcol head of marketing Nicholas Mendes says: “NatWest are the latest lender to reprice upwards following similar moves from TSB and Accord today.
“Market Swap movement continues to increase each day and it won’t be long before those remaining sub-4% deals are no longer available. Any rate war certainly feels like it has cooled off, but this is only temporary.”
