NatWest is cutting mortgage rates whilst Barclays is also lowering rates for borrowers and introducing new deals for Help to Buy and buy to let mortgages
Barclays is reducing rates on select purchase and remortgage rates at 60 per cent loan to value (LTV), and on a number of products in its reward and buy-to-let range.
An additional pair of two-year fixes will be available for Help to Buy from 16 June from 1.92 per cent interest at 75 per cent LTV.
There is also a new 2.11 per cent two-year fix for portfolio landlords at 75 per cent LTV, with £1,795 fee.
And a five-year purchase-only deal on buy-to-let at 2.05 per cent at 75 per cent LTV with £1,295 fee.
As a result of rate cuts, the lender will offer a three-year fix at 1.58 per cent at 80 per cent LTV under its reward range, and a five year fix of 1.39 per cent at 70 per cent LTV.
For buy-to-let borrowers there is now a five-year fix of 2.09 per cent at 60 per cent LTV and a two year equivalent at 1.99 per cent.
NatWest cuts rates
NatWest is slicing rates by up to 30bps across its existing customer range between 60 and 80 per cent LTVs.
Mark Bullard, head of sales, said: “We’re delighted to be making further decreases to our existing customer range.
“I’m particularly pleased that we have been able to make these changes across a wide range of LTVs for both two and five-year deals.
“We’re also pleased to be making these rate reductions on the back of the successful launch of our additional borrowing platform, where our brokers now have the ability to request additional borrowing at the same time as completing a product switch for their customers.”