A further round of rate reductions have been announced by a variety of lenders, including NatWest and TSB.
NatWest
NatWest confirmed a further set of rate reductions, following a number mortgage changes announced last week (September 5).
NatWest said that, as of September 8, there will be a number of changes made across its business rates.
These include changes to its purchase product, with reductions of up to 18 basis points and 10bps on selected two and five year deals.
Its remortgage product also experienced a fall, being reduced by up to 12bps and 9bps on selected two and five year deals.
A rate reduction of up to 15bps and 4bps was also announced on the lender’s first time buyer product.
The lender additionally announced changes to its green products, with its green purchase product seeing a rate reduction of up to 18bps and 10bps.
Meanwhile, its green remortgage product experienced a reduction of up to 12bps and 9bps on selected five year deals.
NatWest additionally said its rate reductions extended to its existing customer rates, including to its switcher product which experienced a rate reduction of up to 30bps and 9bps.
TSB
NatWest was not alone in announcing rate reductions with TSB also making a similar announcement.
TSB announced that, from September 8, it had made further reductions across its mortgage range, including to its residential, buy-to-let, product transfers, and additional borrowing products.
For its residential products a reduction of up to 0.20 percentage points on two-year fixed house purchase and remortgage 0-75 per cent LTV was announced.
TSB’s product transfer and additional borrowing products both experienced a fall of up to 0.50 percentage points on buy-to-let two and five year fixed products.
A rate reduction was also announced on TSB’s buy-to-let product, with two and five year fixed house purchase and remortgage products being reduced by up to 0.50 percentage points.
Additionally, TSB announced a new buy-to-let product, introducing two and five year fixed remortgage £0 fee products with rates starting from 5.79 per cent.
These announcements follow Santander announcing a series of rate reductions which took effect on September 7.
tom.dunstan@ft.com
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