NatWest has introduced interest rate reductions for new customers, existing customers and additional credit products.
As part of the cuts, NatWest has cut interest rates on two-year purchases by up to 20 basis points. These include rates of 80% loan-to-value (LTV) and a product fee of £995 and £1,495, which have been reduced to 3.96% and 3.91% respectively.
The two-year 60% LTV fix with a £995 fee has been reduced from 3.75% to 3.67%, while the equivalent product with a £1,495 fee has fallen by 8 basis points to 3.62%.
Mortgage interest rates have also been reduced. The two-year fixed rate remortgage with a £995 fee at a 60% LTV has been reduced by 10 basis points to 3.73% and the 60% LTV with a £1,495 fee has been reduced to 3.68%.
NatWest has also reduced buy-to-let (BTL) prices. The two-year fixed purchase at 75% LTV with a £995 fee has been reduced by 10 basis points to 4.01% and the 75% LTV with a £3,499 fee has been reduced from 3.58% to 3.48%.
Meanwhile, BTL five-year fixed remortgage prices have also fallen. The 75% LTV with a £4,999 fee has been reduced from 3.99% to 3.89% and the 75% LTV with a £5,999 fee has fallen by 10 basis points to 3.79%.
NatWest has also reduced rates on shared shares, starters, green and standalone top-up loan products.
Elsewhere, Gatehouse Bank has reduced rental rates on selected two-year, fixed-term buy-to-let (BTL) products for UK expats and international residents.
The changes apply to two-year fixed term products at 80% finance-to-value (FTV) and to 75% FTV products for customers seeking financing for multi-occupancy houses (HMOs) and multi-unit blocks (MUFBs).
Rental rates for two-year BTL products now start at 4.15% for British expats and 4.16% for international residents.
Gatehouse Bank accepts applications from both private individuals and UK registered SPV Limited Companies.
British expats and international residents acquiring a home or investment property in England or Wales can now apply for a UK current account with Algbra as part of the home financing process with Gatehouse Bank.
Gatehouse Bank head of customer propositions Gemma Donnelly says: “We know how important it is for landlords to find the home finance product that best suits their needs and at the best price.”
“Today’s changes reflect our commitment to remaining competitive in the market whilst maintaining a high level of service for those looking to invest in the highly popular UK property market.”