NatWest will make rate reductions to new and existing customer product ranges from 18 January.

NatWest will make further rate reductions of 10 basis points on its current remortgage range, and reductions of up to 6bps on our existing customer range.

For new business, NatWest will introduce 20 new remortgage products covering two- and five-year deals with £250 cashback while adding 10 tracker remortgage products covering two-year deals and £250 cashback.

New customers can also choose from six new green remortgage products, which cover two- and five-year deals and come with £250 cashback.

Rate changes for new business remortgages will see reductions of 10 basis points on 60% loan-to-value (LTV) five-year deals while green remortgages will also see cuts of 10bps.

Existing customers will see switcher and high-value switcher rate reductions of up to 5bps and 6bps on selected two- and five-year deals.

Tracker rates for switcher products will be lowered by 6bps on a 60% LTV two-year deal while buy-to-let (BTL) switcher rates will go down by 5bps on selected two- and five-year deals.

In addition, NatWest has announced today that it will be making improvements to its remortgage proposition.

The lender will launch an additional range of remortgage products for its residential and green ranges, which will provide £250 cashback.

NatWest says: “Our ‘fees free’ legal products will still be available, and these two options will co-exist, giving customers the choice of which option is best for them.”

The maximum remortgage loan amount has also increased from £2m to £10m for customers using their own solicitors.

It is also removing all standard valuation fees on remortgage products up to a property value of £10m.