NatWest tweaks mortgage rates with cuts and increases
NatWest has amended its mortgage pricing with reductions for new business and a mix of changes for additional borrowing and further advance mortgages.
Cuts of up to 0.22% have been made across its new business mortgage rates, such as the two-year fixed purchase at 60% loan to value (LTV) with no fee, which has been cut from 4.86% to 4.77%. With a £995 fee, the rate has fallen by four basis points (bps) to 4.6%.
The corresponding fee-free five-year fix has been cut by 10bps to 4.69%, while the option with a £995 fee has reduced from 4.7% to 4.59%. With a £1,495 fee, the rate has been cut from 4.65% to 4.54%.
At the higher-LTV tiers, the two-year fix at 95% with no fee has gone down from 5.59% to 5.38%, and the five-year fix from 5.49% to 5.3%.
Changes have also been made to selected remortgage, shared equity and buy-to-let (BTL) pricing.
For additional borrowing, NatWest has increased the fee-free two-year fixed rate at 60% LTV by 9bps to 4.92%, and the option with a £995 fee by 12bps to 4.67%.
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Some reductions have been made across the range, such as the 80% LTV deals, where the fee-free mortgage has fallen by 5bps to 5.2% and the £995 fee option by 3bps to 4.83%.
Two-year trackers for additional borrowing have also been reduced by 10bps.
The changes take effect from 10 August.
NatWest is the most recent lender to introduce lower mortgage rates, following the leads of Nationwide, Barclays and Coventry Building Society this week.
