NatWest will change residential and buy-to-let rate from tomorrow, as some products are being cut by as much as 0.50% and others are being increased.
The lender’s 2-year fixed rate remortgages are being cut by between 0.25% and 0.50%, with 5-year fixed remortgages being reduced by between 0.43% and 0.50%.
NatWest’s buy-to-let 2-year fixed remortgages are being reduced by 0.50%, while three 5-year fixed remortgages are being cut by the same amount.
Mark Bullard, head of sales, said: “We have taken this time to reposition our portfolio to reflect the current market conditions and balance our mix of business.
“This includes reductions of up to 50bps in selected 2 and 5 year deals.”
The lender’s semi-exclusive residential rates are increasing by between 0.01% and 0.04% across its 5-year fixed rate products.
Semi-exclusive buy-to-let rates fixed for five years are typically rising on the purchase side but falling for remortgages.
Meanwhile NatWest has withdrawn it residential s 2-year fixed remortgage at 1.61% to 60% LTV and its buy-to-let 2-year fixed remortgage at 1.88% to 60% LTV.