Natwest has made rates cuts of up to 60 basis points (bps) for its existing mortgage borrowers.
The largest reductions apply to its five-year fixed switcher product for both standard and high value borrowers. For example, the option at 60 per cent loan to value (LTV) with a £495 fee has gone down to a rate of 5.6 per cent, previously 6.2 per cent, while the £995 fee alternative has reduced from 6.04 per cent to 5.44 per cent.
Other rate cuts have been made to Natwest’s two-year fixed switcher mortgages up to 100 per cent LTV with reductions of up to 43bps. This also applies to products for standard and high value borrowers.
The rates on two-year fixed switcher products for buy-to-let borrowers have decreased by as much as 43bps, with the 60 per cent LTV deal with a £995 fee seeing the largest reduction from 6.22 per cent to 5.79 per cent.
Rate cuts apply up to 90 per cent LTV for buy-to-let borrowers refinancing onto a two-year fixed switcher product.
Mortgage brokers have until 10.30pm on 27 October to secure rates for outgoing products.
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
