P524ORACLE 524 Mon24 Feb C4 1709:18
NATWEST SCRAPS
ENDOWMENT PREMIUM
National Westminster has fired another
shot in the mortgage price war by
announcing it will charge a single 13%
mortgage rate on all home loans.
The bank is scrapping the extra 0.5% it
charges on endowment mortgages, and the
premiums of up to 1% on pension
mortgages.
The cuts take immediate effect for new
borrowers and come in for existing
borrowers from March 1.
Lloyds has already eliminated the
endowment differential for new business
and Barclays is reviewing its position.
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