Rbs Group Cut Mortgage Rates
May 9th, 2008 by 
Guy
The Royal Bank of Scotland (RBS) and its sister company, NatWest, have cut their mortgage rates.
Both of these lenders have decreased the cost of lending on their most of their mortgage products, in an effort to increase their new mortgage business.
From 8th May,their interest rates on their two and five year fixed rate products will fall by between 0.10 and 0.40%.
Borrowers buying their first hame can secure a five-year fix at a rate of 5.89%.The Maximum loan to value (LTV) is 75% and a £999 fee is charged. For those remortgaging the rate is 6.09%, the LTV and fee remain the same.
Two year fixes, with LTVs of 75% and 90% are being cut by 0.11%, to 5.79% and 6.09% respectively. With both products there is £999 arrangement fee.
TheRoyal Bank Of Scotland is the UK’s sixth-largest mortgage lender but is currently increasing its market share, having recorded an 19% rise in lending this year.
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