NatWest, one of the UK’s largest banks, has recently announced a reduction in residential and buy-to-let mortgage rates by up to 65 basis points. This move is part of the bank’s effort to make mortgages more affordable for customers.
The reduction applies to both fixed and variable rate mortgages, with the biggest reductions being seen in the two-year fixed rate mortgages. The two-year fixed rate mortgages now have a rate of 1.44%, down from 2.09%. The five-year fixed rate mortgages have also been reduced to 1.94%, down from 2.59%.
The reductions are also applicable to buy-to-let mortgages, with the two-year fixed rate mortgages now having a rate of 1.84%, down from 2.49%. The five-year fixed rate mortgages have also been reduced to 2.34%, down from 2.99%.
The move is part of NatWest’s effort to make mortgages more affordable for customers. The bank has also announced that it will be offering customers a range of incentives, such as cashback and free legal fees, to help make the process of buying a home easier and more affordable.
The reduction in mortgage rates is likely to be welcomed by customers looking to buy a home or invest in a buy-to-let property. The lower rates will make it easier for customers to get on the property ladder or invest in a buy-to-let property. It is also likely to be beneficial for those looking to remortgage their existing property, as they will now be able to take advantage of the lower rates.
Overall, NatWest’s decision to reduce residential and buy-to-let mortgage rates by up to 65 basis points is likely to be welcomed by customers looking to buy a home or invest in a buy-to-let property. The lower rates will make it easier for customers to get on the property ladder or invest in a buy-to-let property, and the incentives offered by NatWest will help make the process of buying a home easier and more affordable.