NatWest has announced rate reductions on its new business, existing customer and additional borrowing product ranges, effective tomorrow. NatWest will have a 5.04% two-year fix purchase from tomorrow, plus a 4.98% five-year fix. The lender is making cuts to its buy-to-let new business rates, including the two-year fixed rate purchase at 75% loan-to-value (LTV), which will be cut by 43bps to 4.16%, with a fee of £3,999. In addition, a two-year fix remortgage rate at 75% LTV will be cut by 6bps to 5.31% with a fee of £995, while a five-year fix at 90% LTV will be trimmed by 17bps to 5.59% with no fee. This comes after HSBC announced earlier today it would be cutting prices to what brokers believed to be rates within the 4% bracket.
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