NatWest has announced it will make further rate reductions on new and existing customer products, effective tomorrow (31 January).

The lender will make rate reductions across its new and existing customer product ranges.

On new business purchases, rates will be lowered by up to 15 basis points (bps) and 12bps on selected two- and five-year deals while for remortgages rates will go down by as much as 24bps and 21bps on selected two- and five-year deals.

First-time buyer products will see reductions of up to 10bps and 12bps on selected two- and five-year deals.

Shared equity purchase products will have rates lowered by up to 15bps and 12bps on selected two- and five-year deals while help to buy shared equity remortgage products will go down by 24bps and 21bps on selected deals.

Buy-to-let (BTL) products across purchase and remortgage will be reduced by 12bps on 75% loan-to-value (LTV) five-year deals.

Finally, green purchase and remortgage products will see rates reduced by up to 10bps and 24bps respectively across selected products.

For existing customers, the switcher product rate will be cut by up to 16bps on selected two- and five-year deals.

The high-value switch will also have rates lowered by up to 16bps on selected deals.

In addition, NatWest will be making changes to its end dates.

Two-year term end dates will move from 31 May 2025 to 30 June 2025 while five-year term end dates will move from 31 May 2028 to 30 June 2028.