NatWest has announced it will be making rate reductions on its new business, existing customer and additional borrowing product ranges from tomorrow.
New customers will see buy-to-let (BTL) two-year fixed rate purchase products at 60% loan-to-value (LTV) lowered by 16 basis points from 4.94% to 4.78% with a product fee of £995 and five-year fixed rate purchase products will be reduced by 17bps from 5.03% to 4.86% with a fee of £995.
BTL two-year fixed rates remortgages at 75% LTV with a fee of £3,499 will decrease by 16bps to 4.54% and the five-year fixed at 75% LTV with a fee of £995 will be cut by 13bps to 5.05%.
For first-time buyers, NatWest will trim the price of its two-year fixed rate at 90% LTV with no fee from 5.56% to 5.35%. This comes with £250 cashback.
NatWest will also reduce the rates on its high value purchase residential products. Two-year tracker rate purchase products at 60% LTV will be cut by 29bps to 4.20%, products at 75% LTV will be lowered by 35bps to 4.33%, products at 80% LTV will decrease by 23bps to 4.51% and products at 85% LTV will be cut by 26bps to 4.51%. All these have a product fee of £995.
In addition, residential two-year fixed rate purchase products will be reduced. This will include the 60% LTV product which comes with a fee of £995 and will be lowered by 19bps to 4.59%.
Remortgage rates will also decrease, including the two-year fixed rate remortgage at 60% LTV with no fee, which will go down from 5.3!% to 5.11%.
Two-year tracker rate remortgages will also be lowered. Some of those being reduced include the 80% LTV with a fee of £995, which is being cut by 54bps to 4.42% and the 85% LTV with a fee of £995, which is being decreased by 52bps to 4.44%.
Meanwhile, Accord Mortgages has announced rates increases, effective tomorrow.
The lender says two-year product rates will rise by up to 0.17% and three-year product rates will go up by as much as 0.13%.
In addition, five-year product rates will increase by up to 0.05%.
All end dates have been extended to 30 September.
