NatWest has lowered rates across its new business, existing customer and additional borrowing product ranges effective today (4 November).
The biggest cuts have been made on the lender’s buy-to-let (BTL) remortgage product. The two-year fixed rate at 75% loan-to-value (LTV) has been lowered by 20 basis points from 3.80% to 3.60%. This comes with a product fee of £3,499.
It has also lowered the two-year fixed BTL remortgage product at 75% LTV by 17bps from 4.70% to 4.53%. This has no legal fee, no product fee and comes with cashback of £350.
The BTL two-year purchase products have also been cut including the 75% LTV with a product fee of £3,499, which has been reduced by 15bps to 3.40%.
In addition, the bank has trimmed prices to its two- and five-year fixed purchase products.
These include the two-year fixed at 60% LTV with a product fee of £1,495, which has been lowered from 3.77% to 3.71% and the five-year fixed at 60% LTV with a product fee of £1,495, which has been reduced by 6bps to 3.84%.
Rates have also been lowered on high value products across two- and five-year fixes.
In the remortgage range, there have been cuts by as much as 8bps. The two-year fixed at 75% LTV with a product fee of £1,495 has been lowered from 3.97% to 3.89%, while the two-year fixed at 60% LTV has been cut from 3.86% to 3.79%. The latter comes with no legal fee, a product fee of £1,495 and cashback of £350.
Meanwhile, in the first-time buyer range the two-year fixed at 90% LTV has been cut by 7bps from 4.51% to 4.44%. This has no product fee and comes with cashback of £250.
The five-year fixed at 85% LTV has been cut from 4.31% to 4.24%. This has a product fee of £995 and cashback of £250.
NatWest has also made rate decreases to other ranges including shared equity by 6bps, Help to Buy shared equity by 8bps, standalone borrowing by 8bps, green by 8bps and green BTL by 13bps.
These cuts come after NatWest announced price reductions last week across multiple ranges.
Elsewhere, Family Building Society has made rate cuts and product changes, as well as adding to its BTL range.
The society has lowered rates across most of its owner occupier and BTL products.
It has also removed the LTV price tiering for its BTL product range, with only the 75% LTV BTL products remaining on sale.
Finally, the mutual has launched new BTL products, available only for existing borrowers and further advance without product fees.
