NatWest has revealed a series of rate cuts across its range of mortgage products for new business, affecting purchases, remortgages, first-time buyers, shared equity, and green mortgages.
Purchases and first-time buyer products will see rate reductions of up to 0.34% on selected 2-year deals and up to 0.27% on f5-year deals. Remortgage rates will be reduced by as much as 0.57% for 2-year terms and 0.32% for 5-year terms.
For shared equity purchase and Help to Buy shared equity remortgages, the reductions are up to 0.32% and 0.57%, respectively, on select 2- and 5-year products.
Buy-to-let (BTL) purchasers can expect cuts of up to 0.35% for 2-year deals and 0.31% for 5-year deals, with BTL remortgages seeing cuts of up to 0.40%.
Green mortgage products, which support energy-efficient homes, are also part of the rate reduction, with up to 0.34% off 2-year purchases and up to 0.43% on remortgages. Additionally, BTL green mortgages will have reductions of up to 0.24% for purchases and 0.38% for remortgages.
For existing customers, NatWest is reducing switcher rates by up to 0.25% on selected 2-year deals and 0.13% on 5-year deals. BTL switchers will see rate cuts of up to 0.31%.
The bank is also introducing new switcher products with 100% LTV for 2-year terms, aiming to provide more options for those looking to switch their mortgage deal. Concurrently, NatWest is withdrawing two 100% LTV switcher products from its range.
Earlier today both HSBC and TSB made reductions across their respective mortgage ranges.
