NatWest will introduce rate reductions on selected core and semi-exclusive residential products, effective from 31 January.
The lender has reduced rates by up to 19 base points for new and existing customers.
For new customers, this includes its broker exclusive five-year fixed purchase product at 95 per cent loan to value (LTV), which has decreased 0.19 per cent from 3.18 per cent to 2.99 per cent. It has no product fee and £250 cashback.
As for its core residential range, the five-year fixed 80 per cent LTV deal has gone down to 1.79 per cent from 1.85 per cent. This product has a £995 fee and comes with £250 cashback.
For existing customers, across its residential core range the five-year fixed rate switcher up to 80 per cent LTV is decreasing by two base points from 1.90 per cent to 1.88 per cent. This has a product fee of £995.
The end dates of the products have also been adjusted, with two-year terms moving from 31 March 2022 to 30 June 2022 and five-year terms ending 30 June 2025 instead of 31 March 2025.
Mark Bullard, head of sales at Natwest, said: “These changes once again underline our commitment to the intermediary market. I’m pleased that we have been able to make rate reductions across our product range on a variety of LTV bandings.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
