NatWest ups its standard variable rate

NatWest is the newest bank to react to the Bank of England’s base rate rise on 2 August, increasing the standard variable rate for its residential mortgages by 0.25 per cent to 4.24 per cent.

The bank reports that its Offset, The One Account and Current Account mortgage customers will also see 0.25 per cent added to their rates.

Alongside these raises, NatWest help to buy Isa savers will benefit from a rise from 2.00 per cent to 2.50 per cent – double the base rate rise.

The changes will take place from 01 September 2018.

NatWest joins an increasing roster of lenders who have taken such action, including Coventry Building SocietyNationwideSantander, and Sainsbury’s Bank.

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