NatWest is to introduce changes to its new and existing customer product ranges as of tomorrow, Wednesday the 16th of August.
For its new business offering, the lender is introducing rate reductions of up to 30ps and 45bps on selected 2- and 5-year deals in its purchase range.
As part of its remortgage range, there will also be rate reduction of up to 24ps and 14bps across selected 2- and 5-year deals.
First time buyer products will also see reductions of up to 15ps and 28bps, while shared equity purchase deals will benefit from reductions of up to 20ps and 23bps.
NatWest has also cut rates across selected Help to Buy, green buy-to-let and switcher deals.
For more information visit NatWest’s webisite.
Nicholas Mendes, mortgage technical manager at John Charcol, said: “NatWest are the first high street lender to make another rate reduction in a short period of time.
“The Bank of England will have concerns over this morning wage growth and the impact on inflation.
“Markets are now pricing in a base rate peak of 6% which mean we are certain to see a further rise of 0.25% in September regardless of the inflationary data that is due out tomorrow morning.
“While we may have expected a pause in any competitive lender fixed rate repricing temporarily, NatWest have pushed ahead in the product changes.”
