Natwest announced various rate reductions on mortgages for new businesses and existing customers.
The changes include rate cuts across its mortgage guarantee program and green mortgage products, with reductions of up to 0.69% for remortgage customers and 0.52% for existing customers.
Shared share reductions
In its shared equity lineup, Natwest cut rates on the entire loan-to-value (LTV) level from 60 to 75 percent, with highlights including rate cuts of up to 0.17 for cent on certain two-year fixed rate products, while the shared share product purchase assistance received the same reduction also on two-year fixes.
For new business, the base range for purchases saw declines of up to 0.25% and 0.28% on fixed two and five year contracts respectively.
Remortgage products saw discounts of up to 0.69% and 0.1% on two- and five-year fixed rate contracts, respectively.
Mortgage guarantee program products have seen reductions of up to 0.2% for two-year fixes and 0.14% for five-year fixes.
Green buying and basic buying changes
The bank also cut rates on its range of green purchases to 0.19% and 0.11% over two and five years respectively, and on its green mortgage to 0.16% and 0.01%. over two and five years. fixed offers respectively.
Also in its range of basic purchases, the lender has made rate cuts of 0.18% and up to 0.20% on fixed two- and five-year agreements.
Mortgage products were also reduced by up to 0.29 percent and 0.19 percent on two- and five-year fixed offer offers respectively.
Split share proceeds reduced by 0.21% with cashback increased to £ 400 for a two-year 60% LTV fixed offer, while Help to Buy split share deal saw a reduction by 0.21% and an increase in cashback. at £ 400 on a 60 percent LTV fix over two years.
Reduced first-time buyers rates
For first-time buyers, rates have been cut down to 0.18% and 0.14% on two- and five-year fixes respectively, with a range of cashback changes.
For purchases, the cash back decreases to £ 0 on a five-year 80% LTV fixed product.
For existing customers, the switching rate has been reduced by up to 0.52 percent and 0.11 percent on the two and five year fixed plans respectively, while the high value rate has seen decreases. discounts of up to 0.9 percent for two-year plans. and 0.9 percent on fixed five-year agreements.
Natwest increased its cash back on select products, including its two-year 60% LTV fixed rate mortgage, which went from £ 0 to £ 200. His five-year 60% LTV fixed rate purchase product, with a fee of £ 995, also saw his cash back drop from £ 0 to £ 250.