For remortgage applications NatWest is also changing the loan amount threshold for its High Value products.

The minimum loan amount for High Value products will be reducing to £350,000 from the current £500,000.

A NatWest spokesperson said: “We have taken this opportunity to review our proposition to ensure it is in line with current market conditions.”

Rates for purchase increase by up to 0.30% on selected 2-year deals and up to 0.20% on selected 5-year deals and remortgage rates increase up to 0.15% on selected 2-year deals and 0.17% on selected 5-year deals.