NatWest is reducing some rates but also increasing some first-time buyer and home mover deals tomorrow.

The reprice comes hot on the heels of rate cuts at HSBC, as mainstream lenders have been battling it out at the top of the best buy tables.

Tomorrow’s changes include increases of up to 15 bps on some home mover and first-time buyer two and five year fixes.

But selected remortgage rates will drop by up to 16 bps.

Help to Buy shared equity remortgage rates will also fall by up to 16bps and green remortgage deals by up to 10 bps.

John Charchol mortgage technical manager Nicholas Mendes says: “NatWest’s recent rate reduction appears to be a swift reaction to HSBC’s repricing today.

“Currently, NatWest’s rate at 3.83% with a £1,495 fee places them in direct competition with Barclays and HSBC among the top deals.

“However, HSBC’s current offer stands out with a 3.84% rate and a lower £999 fee, which could be more appealing to borrowers despite the slightly higher rate compared to NatWest’s 3.83% with a £1,495 fee.

“For those with a Premier account, HSBC’s 3.81% offer is now the best buy, highlighting how having a Premier current account can make a product particularly attractive.

“It will be interesting to see how Barclays and HSBC react or if this latest move by NatWest is intended to align the broker offering with the deals available directly to borrowers through NatWest.”