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NatWest starts another week of rate cuts on selected mortgage products

Journalist: Riz Malik

ended 12. August 2024

Following Santander on Friday, NatWest has this morning announced that, effective 13th August, they are making a number of rate reductions to their New Business product range (changes below). Newspage asked brokers if this is shaping up to be another week of rate cuts benefiting the consumer. Their views are bottom.

Full details of the NatWest changes are as follows:

New Business Rate Changes:

Purchase: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Remortgage: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Purchase – high value: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Remortgage – high value: Rate decrease of up to 20bps on selected 2 and 5 year deals.

First time buyer – purchase: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Shared equity - purchase: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Help to Buy shared equity – remortgage: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Buy to Let – purchase: Rate decrease of up to 62bps and 34bps on selected 2 and 5 year deals.

Buy to Let – remortgage: Rate decrease of up to 76bps and 35 bps on selected 2 and 5 year deals.

Green - purchase: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Green - remortgage: Rate decrease of up to 20bps on selected 2 and 5 year deals.

Buy to Let Green – purchase: Rate decrease of up to 42bps and 27bps on selected 2 and 5 year deals.

Buy to Let green remortgage: Rate decrease of up to 10bps and 20bps on selected 2 and 5 year deals. 

5 responses from the Newspage community

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Tony CastleVerified
Managing Director at PFG Mortgages
The good news just keeps coming on the mortgage front. This is a great start to the week with NatWest announcing further rate reductions first thing Monday. Rates falling below 4% and continuing to decrease is a huge and much needed relief to not only homeowners but also aspiring buyers. The feel good factor seems to be back. Clearly, this week’s inflation data will be closely monitored by lenders and could determine what happens to rates in the weeks ahead.
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Katy EatentonVerified
Mortgage & Protection Specialist at Eatenton Finance
Is there a better way to start the week? With rate reductions announced from NatWest and Santander for this week, there is definitely a rate war looming. The start of the year was shaky, so lenders may be trying to get the business in before the year ends.
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Riz MalikVerified
Independent Financial Adviser at R3 Wealth
Not even an hour into the new week and NatWest have shot out of the blocks with even more rate cuts. With Santander also announcing cuts late on Friday this should be another fantastic week of sizzling rates as the UK basks in the sun. All eyes, of course, are on Wednesday and the latest inflation data. That will be a key influencer of what happens to rates next.
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David StirlingVerified
Independent Financial Advisor at Mint Wealth
The Olympics may have ended yesterday, but the competition between lenders continues with NatWest cutting rates first thing on Monday morning. Hopefully there are no false-starters and the race to cut more rates to lower than 4% continues to hot up this week between the banks.
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Ranald MitchellVerified
Director at bad credit mortgage specialists Charwin Mortgages
NatWest has made the start of this week a bit more palatable by announcing a round of rate reductions across the board. And to borrow a line from The Boomtown Rats, "Tell me why I don't like Mondays?". Well, today, it's because there's no reason not to! This latest move is yet another volley in the ongoing mortgage rate war among the UK's biggest banks, and it's music to the ears of consumers nationwide. As rates drop, it's an all-around win for anyone looking to secure a mortgage. It's clear that, in this competitive landscape, NatWest is keen to stay ahead of the pack, offering more affordable options for homeowners. So, for once, let's embrace Monday and the good news it brings for mortgage seekers across the UK.