NatWest is making more than 200 rate cuts across its new business range on Monday, with prices falling by up to 24 basis points, but some existing customer rates are rising.

The lender is following in the footsteps of Nationwide and Barclays, which also lowered rates this week.

Halifax was among the lenders to move in the other direction with increases on many products, which brokers have described as a bid to manage lending volumes.

At NatWest, the biggest reduction is to a two-year fixed buy-to-let remortgage deal at 75% loan-to-value (LTV) with no fee, which will fall by 24bps, from 5.41% to 5.17%.

Several buy-to-let purchase deals at the same LTV will come down by 22bps, amid wide-ranging cuts across the whole landlord range.

In the lender’s residential range, there is good news for first-time buyers and home movers borrowing at high LTVs.

A two-year fixed for purchase at 95% LTV with no fee, will drop by 21bps, from 5.59% to 5.38%.

At the same LTV and also for purchase, a five-year fixed with no fee, will be lowered by 19bps, from 5.49% to 5.3%.

For first-time buyers, a two-year fixed at 90% LTV with a £995 fee and £250 cashback, will fall by 16bps, from 5.02% to 4.86%.

These are just a few of the 216 price reductions NatWest is making on Monday.