NatWest has cut rates and added new deals for residential purchase and remortgages and refreshed its range of switcher products.

For those buying a home, the lender cut rates on two-year fixes at 80 per cent loan to value (LTV). The £995 fee product with £250 cashback has been reduced to 1.82 per cent, and the fee-free with £250 cashback is now 2.40 per cent.

The five-year rate at 90 per cent LTV, no fee and £250 cashback, has been cut to 3.48 per cent.

For remortgagors, two-year fixed rates have been cut by eight basis points. At 70 and 75 per cent LTV, with no fee, the new rate is now 1.53 per cent. At 80 per cent LTV, with £995 fee, the new rate is now 1.75 per cent.

Rates on five-year fixed remortgage products at 70 and 75 per cent LTV, with £995 fee, were cut to 1.41 per cent. At 85 per cent LTV, the five-year fixed, no-fee remortgage product has been cut to 2.79 per cent.

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New deals

The lender introduced seven new residential products, including five remortgage deals and two green mortgages for purchase.

The new remortgage offers included a two-year fixed at 60 per cent LTV, with a rate of 1.28 per cent, product fee £0 and cashback £250.

And three new high value remortgage deals were offered. One was a two-year fixed, at 75 per cent LTV, with a rate of 1.18 per cent and £995 fee. The other two were five-year fixes, at 70 and 75 per cent LTV, with a rate 1.4 per cent and product fee £995.

The two new green residential mortgage purchase products comprised a two-year fixed at 75 per cent LTV with a rate of 1.17 per cent, and a five-year deal at 85 per cent LTV, with rate at 2.47 per cent. Both come with a £995 fee and £250 cashback.

Switcher refresh

The lender has also made a swathe of changes to its switcher mortgages.

These included rate cuts on residential and buy-to-let (BTL) two and five-year fixes.

Additionally, it introduced 12 new switcher mortgages and withdrew the same number.

The new two-year fixed rates start at 1.03 per cent for a two-year fixed at 60 per cent LTV.

The new five-year fixed switcher mortgages start at 1.20 per cent at 60 per cent LTV and come with a £995 fee.