NatWest has made a series of rate cuts to its residential and buy-to-let mortgage range with reductions of up to 146 basis points (bps).
This headline reduction was made within its buy-to-let offering on its 75 per cent loan to value (LTV) five-year fixed fee-free remortgage product, which was cut to 2.01 per cent.
Other significant cuts include the two-year fixed buy-to-let remortgage at 60 per cent LTV, which was reduced from 2.77 per cent to 1.63 per cent. This product also has no fee.
There was also the 70 per cent LTV five-year fixed fee-free buy-to-let remortgage product, which has decreased by 129 bps to 1.73 per cent.
The bank has also removed the £250 cashback incentive from some of its mortgages, including two-year fixed residential purchase products at 80, 85 and 90 per cent LTV.
These products also received reductions of up to 0.22 per cent.
A five-year fixed purchase product at 90 per cent LTV also had its cashback incentive removed, meanwhile the rate on the fee-free mortgage was reduced from 3.29 per cent to 3.07 per cent.
For first-time buyers, rates for two and five-year fixes at 80 to 90 per cent LTV decreased by up to 0.19 per cent.
Changes come into effect from tomorrow.
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
