NatWest has reported that as of today it is reducing rates across its core and semi-exclusive ranges of residential and buy-to-let purchase mortgages and remortgages.
According to the Bank, it is also launching a new two-year fixed rate 60% LTV buy-to-let purchase deal at 2.08% with no product fee.
Across the core range, two-year fixed rate Help to Buy and shared equity rates will see reductions of between 31-36bps and five-year fixed rates will decrease by up to 42bps.
Five-year first-time buyer rates will see decreases of 22bps and 13bps on 80% and 85% LTV deals respectively. 90% and 95% LTV two-year fixed rate residential rates will drop by 19bps and 10bps respectively.
Selected five-year fixed rate residential rates will see decreases of up to 35bps and buy-to-let five-year fixes will be cut by between 35-61bps.
On semi-exclusive products, first-time buyer rates will see decreases of up to 11bps. Other residential rates will decrease by up to 40bps across two-year deals and by up to 21bps for five-year fixed rates.
All of NatWest’s semi-exclusive five-year fixed rate remortgage rates will be cut by between 4-21bps.
Mark Bullard, Head of Sales, commented: “Having reviewed our portfolio, I’m delighted that we are able to make some significant rate reductions on many of our mortgages. This is particularly evident in our shared equity and five year products as we believe there is a great opportunity to grow these sectors of the market.
We have had a great start to the year. Our recent announcement about our new BDM partnership model has been very well received by the broker community who will now have a field and a phone BDM supporting them. We are looking forward to an exciting year ahead, delivering a continued excellent level of service to mortgage advisers.”