RBS and NatWest launch fixed-rate mortgage
Wednesday, 15 Oct 2008 11:40
Royal Bank of Scotland (RBS) and NatWest have unveiled a two-year fixed rate mortgage with a rate of 5.74 per cent.
The new deal, which has a fee of £499, is available for loans of up to 75 per cent of the value of the property.
The fee has been reduced from the £999 previously charged on the RBS and NatWest 75 per cent Loan to Value (LTV) deal. The interest rate on the latest mortgage is also 0.45 per cent lower.
People moving home, remortgagers and existing RBS and NatWest customers who want to switch deals are eligible to apply for the deal. Anyone remortgaging will benefit from free legal and valuation fees.
Paul Geddes, chief executive of retail banking at RBS said: "We continue to grow our presence in the mortgage market, with lending to new customers up 28 per cent year on year.
"We remain committed to making lending available to ensure we support our customers during these challenging economic conditions," he added.
The two-year fixed-rate mortgage is available via RBS and NatWest branches, or by phone. There is an early repayment charge of three per cent.