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NatWest reducing fixed rates - up to 0.45% down

Journalist: Justin Moy, Contributing Editor

ended 15. August 2023

NatWest has just announced a wave of fixed-rate reductions that are certainly showing the high street competition over the past few weeks isn't stopping. Free UK news agency, Newspage, sought the views of brokers, below.

 

8 responses from the Newspage community

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Jamie Alexander
Mortgage Director at Alexander Southwell Mortgages
Hopefully, these decreases continue over the next few weeks. The big lenders are now actively competing for the lion's share of the market. Many borrowers will benefit from this so fingers crossed it continues.
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Peter Stamford
Mortgage Expert at Stamford Home Finance
For the second time in five days, NatWest is vying for market share, delivering wins for borrowers with rate cuts across the residential sector. While the market buzzes with plummeting rates, there's a risk borrowers may adopt a wait-and-see stance, anticipating even lower rates. It seems Tuesday's wage uptick data isn't deterring lenders, especially with anticipated positive inflation outcomes. As the month progresses, expect more aggressive moves from high street lenders, signalling strong lending and buying appetite.
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Gary Boakes
Director at Verve Financial
With lenders now realizing that their hasty rate increases in June had killed the purchaser market, they are all backtracking and lowering rates, which is great, but it feels like they could be doing more if they really want to get people back out looking. But as always, good news and any rate reductions are welcome in this current market.
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Justin Moy
Managing Director at EHF Mortgages
Yet more positive news from the High Street lenders, who are all fighting for market share, and the benefits will be felt by borrowers. These particular cuts by NatWest are for all types of residential lending, Buy to Let, and for existing clients, so many will feel the value of them.
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Ranald Mitchell
Director at bad credit mortgage specialists Charwin Mortgages
It is heating up at the sharper end of the market and how low will they go? My only concern is that whilst market rates tumble, borrowers will not jump at the opportunity, reverting to the wait-and-see approach, hoping that they will drop further. This is where brokers can provide appropriate reassurance in between re-broking their entire sales pipelines.
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Elliott Benson
Owner at Sett Mortgages
As I kept saying, race to the bottom, there is definitely an appetite for lending and also one for buying. More to come from the high street lenders as we get to the end of the year
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James Miles
Director - Mortgage Adviser at The Mortgage Quarter
Life is a rollercoaster, and you just gotta ride it. Doesn't look like the increase in wages is putting off lenders fighting for Top of the Pops. This is great news from a big lender who are clearly expecting positive inflation results this week. There's still some time on the ride this year but let's take the wins and hope rates settle down from their inflated spikes.
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Ben Tadd
Director at Lucra Mortgages
Despite this morning's news surrounding accelerating wage growth, the markets have continued, so far at least, to react positively, with lenders still coming out and slashing their rates. If the inflation data being released tomorrow is as positive as anticipated, the mini-rate war we are witnessing may well spiral on, regardless of whether the Bank of England crumbles to pressure to raise interest rates further in the light of Tuesday's wage growth data.