High street lender Natwest will cut new business and existing customer rates by up to 0.23%, including purchase and remortgage deals.
On the purchase side, Natwest’s two- and five-year deals will fall by around 0.12% and 0.23%. This includes its fee-free two-year fixed rate at 95% loan to value (LTV), which has fallen from 6.27% to 6.04%.
In its remortgage range, two- and five-year deals will fall by around 0.08% and 0.13%. Its two-year fixed rate at 80% LTV with a £995 fee will go down from 5.66% to 5.53%.
Purchase and remortgage high-value deals will contract by around 0.1% and 0.13% respectively.
Within Natwest’s first-time buyer range, cuts of around 0.05% and 0.06% will apply. An example includes its five-year fixed rate purchase with no fee and £250 cashback at 90% LTV falling to 5.02%.
Shared equity purchase rates will go down by around 0.08% and 0.12% and Help to Buy shared equity remortgage will decrease by around 0.06%.
Shared equity pricing starts from 5.16%, while Help to Buy deals will be priced from 5.29%.
On the buy-to-let (BTL) side, purchase deals will fall by around 0.07% and remortgage deals will go down by around 0.18%. Purchase deals begin from 5.09% and remortgage deals start from 4.94%.
Natwest’s green purchase products will fall by around 0.06% and remortgage deals will fall by around 0.08%. Rates start from 4.72%.
Cuts will also be made to its BTL green and mortgage rates, decreasing by around 0.07% and 0.18% respectively. Pricing begins from 4.84%.
Switcher products will decrease by around 0.08%. Rates start from 4.86%.
In an interview with this publication, Brad Fordham, Natwest’s head of distribution, said that he wanted the brand to be known for its consistency, affordability and flexibility.
The firm has also recently lifted its maximum LTV for new-build homes to allow more people to get onto the property ladder.
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