NatWest has announced cuts to their fixed-rate mortgages, making it cheaper to buy or secure a better deal on your existing home loan.

The bank has reduced rates by up to 0.19% across a range of their mortgages. This means lower monthly payments and potentially thousands of pounds saved over the lifetime of your mortgage.

What’s changed?

Here’s a breakdown of the key changes:

For those buying a new home:

• Two-year fixed rate: If you have a 40% deposit (60% loan-to-value), you can now snag a rate of just 4.40% – a reduction of 0.19%. And the best part? There are no product fees to pay.

For those remortgaging:

• Two-year fixed rate: Homeowners with a 20% deposit (80% loan-to-value) can now get a rate of 4.85%, down by 0.19%. While there is a £1,495 product fee, you’ll receive £250 cashback to soften the blow.

First-Time Buyers:

• Two-year fixed rate: First-time buyers with a 15% deposit (85% loan-to-value) benefit from a 0.13% reduction, bringing the rate down to 4.92%. This deal comes with no product fee and a welcome £250 cashback.

Help to Buy:

• Two-year fixed rate (remortgage only): Existing Help to Buy homeowners can now secure a two-year fixed rate at 4.95%, a reduction of 0.17%. This deal is available for those with a 25% equity stake (75% LTV) and comes with no product fee and a generous £500 cashback.

Key Dates to Remember:

It’s worth noting that NatWest has also shifted the end dates for their two and five-year fixed-rate mortgages. Two-year deals now end on 31st December 2026, while five-year terms run until 31st December 2029.