Proactive Investors - NatWest Group PLC (LON:NWG) has announced a second cut to mortgage rates in a month, this time targeting business deals, as lenders continue to grapple for customers.
Cuts of up to 19 basis points were unveiled by the bank at the start of the week, before they hit the market on Tuesday.
This includes a 19 basis point cut to NatWest’s two-year fixed purchase deal, taking the rate to 4.40% on a 60% loan-to-value mortgage, which will have no product fee.
For a two-year fixed remortgage, the bank will charge 4.85% for those able to put down a 20% deposit and pay a £1,495 fee, with this also down 19 basis points.
Two-year fixed rates are also to be cut by 13 and 17 basis points for first-timers and those on help-to-buy schemes respectively.
First-time buyers will be offered 4.92% on an 85% loan-to-value deal for the former, while the help-to-buy rate will be set at 4.95% and require a 25% deposit.
NatWest had cut its five-year fixed rates in mid-August, taking interest costs below the 4% mark, with the latest reductions also stretching to high-value and green mortgages.
This comes as rival lenders also launched a string of mortgage rate cuts throughout the month following the Bank of England’s move to cut base interest earlier on.