NatWest has become the latest lender to increase rates across its residential and buy-to-let mortgage ranges due to rising swap rates.
Last week, accelerating conflict in West Asia caused volatility in swap rates. Two-year swap rates rose from 3.33% at the end of February to 3.65% by last Friday (6th March), while five-year swap rates increased from 3.50% to 3.80%.
As a result, lenders including Gen H, HSBC, Nationwide, Santander, West One and Coventry Building Society announced selected fixed rate increases last week, with NatWest the latest to increase rates.
In NatWest's residential purchase range, two-year fixed rates have risen by up to 0.16%.
60% LTV rates have increased by up to 0.10% and now start from 3.72%, with 75% LTV and 80% LTV rates also rising by up to 0.10%
The largest rises are to 85% LTV rates, increasing by between 13-16bps, now starting from 4.09%. 90% and 95% LTV rates have risen by up to 0.14%.
Five-year rates have seen smaller increases of between 4-12bps. The lowest 60% LTV rate is now 3.89%, while a 95% LTV rate has seen the largest increase, up by 12bps to 4.79% with no fee.
For remortgage, two-year fixed rates have increased by up to 0.12%, with the largest cuts to fee-free 60% LTV rates which now start from 4.13%. The lowest rate at 60% LTV is now 3.76%.
Five-year remortgage rates have increased by 3-7bps.
Elsewhere in the lender's range, first-time buyer remortgage rates have risen by up to 0.16% and green purchase and remortgage rates have increased by up to 13bps.
NatWest's buy-to-let purchase and remortgage rates have also increased by up to 0.18% between 60% and 75% LTV. The largest increase is to a two-year fixed rate remortgage product, up to 3.66% with a £3,499 fee.
Buy-to-let green mortgage rates have seen increases of up to 0.15%, with the largest hikes to five-year remortgage rates.
