NatWest has made significant reductions to its 5-year fixed rate remortgages which will be live from tomorrow.
Its remortgage 5-year fixes stand at 1.92% (-0.67%) to 60% loan-to-value, 2.10% (-0.63%) to 70% LTV, 2.27% (-0.71%) to 80% LTV and 3.03% (-0.40%) to 90% LTV, all with a £995 product fee.
Mark Bullard, head of sales at NatWest, said: “With the expectation that interest rates will start to creep upwards in the not too distant future and the degree of uncertainty that the Brexit negotiations is having on economic forecasts, we have detected a demand from brokers and their customers to lock-in to longer term mortgage deals.
“We have responded to this trend by reviewing our deals and I am pleased to be able to deliver a really comprehensive set of rate reductions on our longer term mortgages to offer brokers and their customers more attractive rates.”
NatWest also snipped other rates.
For 2-year fixes for house purchase the biggest rate cut was to its 60% LTV mortgage, which now stands at 1.19% (-0.23%) with a £995 fee, although cashback was reduced from £500 to £350.
The biggest rate cut for 5-year fixes for house purchase was to the 70% LTV product, which now stands at 1.95% (-0.13%) with a £995 fee with £500 cashback.