Mortgages

NatWest cuts rates for new customers by up to 0.25%

NatWest is reducing intermediary exclusive rates by up to 4bps on selected two-year deals and 8bps on five-year deals.

Rozi Jones
|
29th June 2020
NatWest
"We’re delighted to be making our third tranche of rate reductions this month."

NatWest is reducing product rates across its core and semi-exclusive ranges for new customers.

From tomorrow, NatWest is reducing intermediary exclusive rates by up to 4bps on selected two-year deals and 8bps on five-year deals.

Two and five-year fixed rate Help to Buy remortgage products are being cut by up to 25bps.

However, the bank is withdrawing a range of intermediary exclusive two and five-year products between 70% and 80% LTV.

On its core range, NatWest is reducing two-year fixed rates by up to 4bps and five-year rates by up to 8bps.

Shared equity purchase products will see reductions of up to 10bps on selected two-year deals and 24bps on five-year deals.

Help to Buy Shared Equity Purchase products have been cut by 10bps across two-year fixed rates and by up to 24bps on five-year deals.

Remortgage products will see reductions of up to 11bps but will no longer offer £250 cashback.

In line with new business, NatWest will be limiting applications for additional borrowing as part of a product switch to 80% LTV, i.e. the combined product switch and additional borrowing must not be greater than 80% LTV.

Mark Bullard, head of sales at NatWest, said: “We’re delighted to be making our third tranche of rate reductions this month. In particular we have sharpened up our offering to new business customers, especially those looking at Help to Buy or to purchase their new home.”

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