NatWest Cut Fixed Rate Remortgage Rates

NatWest Fixed Rate Remortgage

NatWest has announced a series of reductions in its mortgage rates, applicable to both new and existing customers, effective from the 16th of January 2024.

This marks the lender’s second rate adjustment this month, heightening competition among major High Street banks.

For new property purchases, NatWest has lowered rates by up to 0.40% and 0.36% on its 2-year and 5-year deals, respectively. NatWest Remortgage rates have also seen reductions of up to 0.35% and 0.69% on similar terms. The lender has specifically targeted first-time buyers, with rate decreases of up to 0.40% and 0.36% on 2-year and 5-year deals.

These rate cuts extend to shared equity purchases and remortgages, with reductions of up to 0.18% and 0.25% for 2-year and 5-year deals. Help-to-buy shared equity remortgages also witness 0.20% and 0.69% reductions. In the buy-to-let sector, purchase and remortgage products see rate reductions of up to 0.41% and 0.48% for selected terms.

Significant rate reductions are evident in green mortgage products, aligning with the market’s demand for environmentally friendly options. For green purchases, rates are down by up to 0.36% and 0.31%, while green remortgages see decreases of up to 0.20% and 0.69% for selected terms.

Existing customers are not left out, as switchers can enjoy rate cuts of up to 0.25% and 0.79%, and buy-to-let switchers are seeing reductions of up to 0.50% and 0.40% on selected terms.