Natwest had reduced select new business and existing customer rates, extended term end dates and updated its cladding criteria.

In its new business core residential range, select purchase fixed rates have been cut by up to 0.72 percentage points. This includes its no-fee two-year fixed residential product at 75 per cent loan to value (LTV), which has has fallen by 0.72 percentage points to 5.85 per cent.

Core remortgage rates have gone down by up to 0.51 percentage points, including its fee-free two-year fixed remortgage deal at 75 per cent LTV which has been reduced from 5.64 per cent to 5.13 per cent.

Tracker rate purchase and remortgage deals have fallen by up to 0.2 percentage points. Its two-year tracker purchase rate at 60 per cent LTV has been reduced by 0.2 percentage points to 3.89 per cent and comes with a £995 fee.

In its first-time buyer range, purchase deals have been cut by up to 0.7 percentage points. Its fee-free five-year fixed rates at 85 per cent LTV have been reduced from 5.5 per cent to 4.8 per cent.

The above also comes with £250 cashback.

Natwest’s shared equity products rates have fallen by up to 0.65 percentage points. Fee-free five-year fixed rate at 60 per cent LTV has decreased from 5.4 per cent 4.75 per cent.

Help to Buy purchase and remortgage products have decreased by as much as 0.67 percentage points. This includes a two-year fixed rate at 75 per cent LTV has gone from 5.95 per cent to 5.28 per cent.

In its buy-to-let range, purchase and remortgage deal rates have decreased by up to 0.57 percentage points. Its two-year fixed rate has fallen from 5.84 per cent to 5.27 per cent and is subject to a £1,495 fee.

Green mortgages have decreased by 0.67 percentage points, including five-year fixed rate purchase at 75 per cent LTV, which has fallen from 5.1 per cent to 4.43 per cent. It has £995 product fee.

In its existing customer range, switcher deal rates have gone down by around 0.63 percentage points. Its two-year fixed rate switcher at 60 per cent LTV with £995 fee has fallen from 5.19 per cent to 4.78 per cent.

Its five-year fixed rate at 75 per cent LTV with no fee has gone from 5.19 per cent to 4.56 per cent.

Buy-to-let switcher products have also been cut by around 0.26 percentage points.

Two-year term end dates have moved from 30 April 2025 to 31 May 2025, five-year term end dates have shifted form 30 April 2028 to 31 May 2028.

Natwest updates cladding policy

Natwest confirmed that it would offer mortgages to buildings with cladding, especially properties with A3 or B2 rates cladding systems.

It said that leaseholders in eligible buildings would need to complete and submit a leaseholder deed of certificate to the building freeholder.

Natwest said it would lend based on a new after repairs figure confirmed by a valuer on a valuation report before remediation work is completed.

The rule will apply to application receive before 9 January.