NatWest cuts new business resi, BTL rates by up to 40bps  

NatWest will cut rates for new house purchases and remortgages by up to 40 basis points tomorrow (28 November).  

The high street bank says its reductions cover:  

• Purchases will fall by up to 26ps and 30bps on selected two- and five-year deals  
• Remortgages are down by up to 40ps and 24bps on selected two- and five-year deals  
• First-time buyer loans will fall by up to 26ps and 18bps on selected two- and five-year deals  
• Buy-to-let purchases will fall by up to 42bps and 55bps on selected two- and five-year deals  
• BTL remortgages will fall by up to 31ps and 40bps on selected two- and five-year deals  

The lender adds that with new business BTL rate reductions of between 100bps and 106bps on selected two-year deals, the product fee will rise to £3,499.  

Also, on BTL remortgage rate reductions of up to 80bps and 85bps on selected two-year deals, the product fee will lift to £3,499.  

The business tells brokers that they will be able to produce mortgage illustrations and submit applications online for existing deals until 10:30pm on 27 November.