14 January 2010
From Thursday 14 January we are updating our portfolio of products and rates.
These changes to our portfolio continue to demonstrate our desire to provide a full range of products to meet our customers’ needs.
Details of the new reduced rates are below:
RBS Purchase
| Product name |
Initial rate |
Initial Period |
Product / arrangement fee |
LTV |
Min loan |
APR |
| 2 Year Fixed |
3.69% |
31.03.2012 |
£999 |
70% |
£25,000 |
4.2% |
Shared Equity Update:
Withdrawn
| 3 Year Fixed |
5.89% |
31.03.2013 |
£199 |
80% |
£25,000 |
4.7% |
New Product
| 2 Year Fixed |
4.99% |
31.03.2012 |
£199 |
70% |
£25,000 |
4.4% |
Early repayment charges apply. Interest rate reverts to SVR after the fixed rate period, currently 4.00%.
FA Remortgage
| Product name |
Initial rate |
Initial Period |
Product / arrangement fee |
LTV |
Min loan |
APR |
| 3 Year Fixed |
4.89% |
31.01.2013 |
£799 |
75% |
£10,000 |
3.5% |
Early repayment charges apply. Interest rate reverts to SVR after the fixed rate period, currently 2.79%.
The rate on the following product will increase from Thurs 14 January:
RBS Purchase
| Product name |
Initial rate |
Initial Period |
Product / arrangement fee |
LTV |
Min loan |
APR |
| 2 Year Tracker |
5.49% |
31.01.2012 |
£999 |
90% |
£25,000 |
4.5% |
Early repayment charges apply. Interest rate reverts to SVR after the fixed rate period, currently 4.00%.
Transitional arrangements
You’ll be able to produce KFIs and submit applications online for the existing deals up to midnight on 13 January 2010. The supporting documentation for online applications on these products must be received in our Mortgage Centre in Birmingham by close of business on 27th January.
If you want to withdraw a current mortgage application for a RBS or NatWest product, the full product fee for that product will apply unless we decline to make your client an offer. If you want to withdraw a current mortgage application for a First Active product the withdrawal fee will apply. If selecting an alternative product from our range, the new product fee will be applicable as usual.
When submitting cases online, if the application status on your Case Tracking screen shows as ‘submitted’, that means we’ve received the application and you will have secured that rate for your client.
Missing Information Process
Cases received before Thursday 14 January with Missing Information will be identified by the Broker Support Team, who will contact the broker to obtain this. If Missing Information cannot be completed on the same day the case does not qualify for the expired deal.
If a broker is unable to submit an application electronically, strictly for one of the reasons listed below please email the details of the case to The Broker Support Team on rbs.intermediary.partners@rbs.co.uk and the application will be entered on the exceptions log.
The exceptions log can only be used when the broker needs to submit a paper application for one of the following reasons:
- Online App form restrictions (i.e. More than 2 applicants, foreign nationals, guarantor)
- Technical Issue with submitting online which cannot be resolved over the phone (i.e. reset CWS password, check correct registration of all eCMS's)
If you have any questions on this or any other queries, please contact us on 08459 00 11 10. We're open 9am to 5.30pm, Monday to Friday.
