NatWest Among Lenders To Reduce Mortgage Rates

NatWest have announced a number of Fixed rate reductions across their 2 and 5 year product ranges. This follows fellow big name lender HSBC, who announced cuts on Monday, as well as Coventry Building Society and Accord.

All lender changes come at the same time as a slight reduction in swap rates, with nominal lender increases having been a common trend after the budget announcement on October 30th.

Market leading rates are still higher than late October, where a number of lenders had sub 4% Fixed products available for residential purchase and remortgage customers.

A 2 year Fix purchase product at 80% loan-to-value is currently starting from 4.52% with £999 arrangement fee, this is 0.1% higher than the same product option pre-budget. A 5 year Fix remortgage product at 60% loan-to-value is now 4.14% with £999 fee, up from 3.84% at the end of October.

Whilst lower loan-to-value products in particular have some catching up to do with recent lows, borrowers will no doubt be hoping this is the start of a downward trend in rates.