Effective from tomorrow (1st November), NatWest has introduced changes to its new and existing customer product ranges, as well as its end dates.
End dates for 2-year terms moved from 31st January 2026 to 28th February 2026, and for 5-year terms, from 31st January 2029 to 28th February 2029.
For residential new business, NatWest reduced rates for selected 2-year and 5-year deals: for purchase, by up to 26 basis points (bps) and 27bps; for remortgage, by up to 17bps and 20bps; for first-time buyers by up to 22bps and 15bps; for shared equity purchase by up to 26bps and 27bps; for Help to Buy remortgage by up to 12bps and 20bps.
For new buy-to-let (BTL) business, NatWest reduced rates for selected 2-year and 5-year purchase deals by up to 37bps and 22bps, and for selected 2-year and 5-year remortgage deals by up to 23bps and 40bps.
For new business green mortgages, the lender reduced rates for selected 2-year and 5-year deals: for residential purchase by up to 23bps; for residential remortgage by up to 12bps and 5bps; for BTL purchase by up to 14bps and 22bps; for BTL remortgage by up to 15bps and 27bps.
For existing customers, NatWest reduced rates on selected 2-year and 5-year deals on its residential switcher (up to 17bps and 20bps) and BTL switcher (31bps and 33bps) products.
The lender introduced new 100% loan-to-value (LTV) 2-year switcher products for existing customers, and withdrew two of its existing 100% LTV 2-year switcher products.
Brokers will be able to produce mortgage illustrations and submit applications online for existing deals up to 10.30pm today (31st October).
Nicholas Mendes, mortgage technical manager at John Charcol, said: “NatWest have wasted no time repricing following similar changes by Halifax and HSBC this morning.
“With markets settled, confident of another Hold in the MPC meeting this Thursday, and Swaps across 2,3, and 5 year falling further lenders clearly feel there is still further ground to make.
“Expect to see the 4.6% breached imminently, and potentially 4.5% on a 5 year fixed sooner than expected.”
