NatWest latest lender to cut rates

January 18, 2024 by Brendan O'Neill

Rates

NatWest has become the latest major mortgage lender to announce reductions to many of the rates for its mortgage products, as the year begins with a blizzard of rate cuts across the industry.

The reduced rates confirmed by NatWest will apply to remortgage and purchase loans and are part of wider adjustments to its slate of products. Starting almost immediately, many of the loans offered by the bank will come with both lower interest rates and different end dates to before. The changes affect both customer and business loans.

When it comes to the former, some of the five and two-year fixed loans that NatWest targets at first-time homebuyers will now have their rates cut by as much as 30bps and 26bps respectively. These changes could help encourage more people to buy their first home.

There will also be cuts of between 15bps and 42bps on some of the five and two-year purchase and remortgage loans provided by the bank. Selected parts of its buy-to-let range are seeing their rates cut by anything from 52bps and 25bps, with green mortgages among the products seeing reduced rates.

NatWest is also cutting interest rates across its business slate. Some of the five-year purchase mortgages in that category will see rates reduced by 42bps. On selected five and two-year purchase and remortgage deals, there are cuts of 30bps and 40bps respectively.

Anyone who has done the CeMAP training course will be glad to see interest rates going down when potential buyers and movers face so many other economic pressures.