NatWest is changing rates across many of its property types. Residential mortgage rates will see a decrease of 10-15bps. Two-year fixed rate mortgages and select others will increase by 10bps. Some products for first time buyers will decrease as well up to 18bps. Five year rates and remortgage rates will both see a discount of 25% and 30% respectively. There will also be deals for new product transfers and retention. The adjustments were made to reflect the current market.

Key Takeaways:

• Rates will be cut in major areas from remortage to fixed rates across the UK
• Not all loans will see a cut, for instance two year fixed will increase about 10 bps.
• They will also be offering product transfer with lower rates in the 2-2.5% range.

“NatWest has announced that it is introducing rate changes across its core and semi-exclusive residential and buy-to-let purchase and remortgage ranges.”

Read more: https://www.propertyreporter.co.uk/finance/natwest-announce-residential-rates-cut.html