NatWest has reduced rates by up to 23 basis points on its new business and existing customer product range, effective from tomorrow (2 July).

The lender has cut rates by 23bps and 12bps on selected two- and five-year purchase deals while rates have been lowered by 13bps and 8bps on selected two- and five-year remortgage deals.

Within its buy-to-let (BTL)remortgage and green remortgage range, NatWest has sliced rates by 18bps and 14bps on selected two- and five-year deals.

For remortgage high value products, rates have been lowered by 13bps and 8bps on selected two- and five-year deals.

Other changes include:

• Purchase – high value: Rate decrease of up to 10bps and 6bps on selected two- and five-year deals.
• First-time buyer: Rate decrease of up to 5bps and 6bps on selected two- and five-year deals.
• Shared equity – purchase: Rate decrease of up to 8bps and 12bps on selected two- and five-year deals.
• Help to Buy shared equity – remortgage: Rate decrease of up to 6bps on selected two- and five-year deals.
• BTL – purchase: Rate decrease of up to 3bps and 7bps on selected two- and five-year deals.
• Green – purchase: Rate decrease of up to 6bps on selected two- and five-year deals.
• Green – remortgage: Rate decrease of up to 6bps and 8bps on selected two- and five-year deals.
• BTL green – purchase: Rate decrease of up to 3bps and 7bps on selected two- and five-year deals.

Meanwhile, for existing customers, switcher product rates have gone down by 8bps and 7bps on selected two- and five-year deals.