NatWest has launched a sub-4% mortgage deal – one of only two that are on the market.
However, there are various restrictions around the deal which home buyers need to be aware of before jumping on the deal.
The five-year fixed rate of 3.97 percent is attractive, but it comes with a hefty fee of £1,495 and is only available on a loan-to-value figure of 60 percent.
That means the buyer must have a deposit worth at least 40 percent of the purchase price.
Separately, it is only available online to customers who contact the bank directly rather than through mortgage brokers.
The equivalent deal via NatWest through brokers is a more expensive 4.03 percent and comes with the same fee.
Data experts Moneyfacts confirmed the NatWest direct-only deal is one of only two sub-4 percent deals available on the market at the moment. The other is from Nationwide, but is available …