New mortgages from Natwest and RBS
Those doing their CeMAP training now or preparing for their Competent Advisor Status (CAS) will be interested to hear that the property market appears to be making a bit of a change for the better and two mortgage lenders looking to stir things up are the Natwest and Royal Bank of Scotland (RBS).
Both lenders have introduced new mortgages this week with a new range of fixed rate mortgages. These fixed rate mortgages vary in terms from two, three or five year deals and the interest rate starts at 3.49 per cent.
In addition, their tracker rate mortgages have also had their interest rates cut by as much as 0.65 per cent.
On top of this, the arrangement fees for the mortgages have also been cut.
Last week, the government increased its stake in RBS to 68 per cent and perhaps this is as a result of that move. Whatever the reason, these new mortgages can only be a step, albeit small, in the right direction for the property market and good news for mortgage advisors.
Posted on January 27, 2009
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