NatWest cuts fixed rates and cashback

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NatWest will tomorrow cut cashback and rates across much of its residential mortgage range sold through brokers.

NatWest will slash rates on its five-year fixed rate remortgage range by up to 0.90 per cent.

All £500 cashback offers on the lender’s two-year fixed rate purchase residential range will be cut to £350.

The lender is also cutting rates by up to 0.23 per cent on this range.

Cashback on NatWest’s five-year fixed rate purchase loan at 60 per cent LTV will be cut from £500 to £250.

The firm will trim rates by up to 0.13 per cent on these loans.

NatWest head of sales Mark Bullard says: “With the expectation that interest rates will start to creep upwards in the not too distant future and the degree of uncertainty that the Brexit negotiations is having on economic forecasts, we have detected a demand from brokers and their customers to lock-in to longer term mortgage deals.

“We have responded to this trend by reviewing our deals and I am pleased to be able to deliver a really comprehensive set of rate reductions on our longer term mortgages to offer brokers and their customers more attractive rates.”