There are now two property value bands, compared to 24 before.
Free standard valuations will be offered to applicants where the purchase price or property value is below £2m. This will only apply to the first standard valuation.
For purchase prices or property values up to £3m, applicants will pay £177. NatWest said this was down from the previous average cost of £352 for applications where property values were up to £3m.
Properties with a value or purchase prices over £3m have a valuation fee of £1,455.
Costs include a £75 administrative fee and would have been applied to new applications from 12 June.
Home buyer and structural reports remain unaffected, with fees starting from £450.