NatWest will cut the rates for new business and existing customers by up to 79 basis points, including the launch of sub-4% home loans tomorrow (16 January).  

The high street lender will introduce a five-year fixed-rate switcher deal at 60% loan to value at 3.94%, with a £995 fee, and a five-year purchase fix for new customers at 60% LTV, at 3.94%, with a £1,495 fee.  

HSBC, Virgin, and Santander have also launched sub-4% deals this year.

NatWest’s other new business highlights include:  

• Purchase rate reductions of up to 40bps and 36bps on selected two- and five-year deals  
• Remortgage rate reductions of up to 35ps and 69bps on selected two- and five-year deals  

Its existing customer highlights include:  

• Switcher rate reductions of up to 25ps and 79bps on selected two- and five-year deals
• Buy to Let — switcher rate reductions of up to 50ps and 40bps on selected two- and five-year deals  

John Charcol head of marketing Nicholas Mendes says: “NatWest have seen their position fall slightly following the recent week of lender repricing.   

“Whether it was waiting for markets to settle or anticipating other lender movements, either way, it’s great to have them on board.   

“Despite a few days of swaps increasing last week, markets have returned to their joyful selves, and continue to price in bank rate reductions over the next few years.