Money News
5th August 2008
RBS and NatWest cut cost of mortgages
Royal Bank of Scotland (RBS) and NatWest have announced they are cutting the cost of selected fixed and tracker mortgages.
The move will bring rates on the deals down by up to 0.30 per cent for the majority of the fixed and tracker deals available to new customers as well as remortgagers.
As a result of the move a five-year fixed rate deal for house purchase with a maximum loan to value of 75 per cent will now be priced at 6.24 per cent, with a fee of £899.
Meanwhile, a two-year fixed rate deal also with a maximum LTV and fee of £899 will feature a new rate of 6.19 per cent - 0.1 per cent lower than previously.
Announcing the change Andy Fell, director of branch mortgages at the company, said: "In these uncertain times, we are committed to helping borrowers who are looking for either their first mortgage or a new competitive deal.
"We are giving practical support by providing lower rates on all our fixed and tracker mortgages and at the same time, we still have discounts on arrangement fees of £100."
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