RBS and NatWest are cutting all of their residential mortgage rates and offering their lowest ever rates for two, three and five year 60% loan-to-value (LTV) products.
However, the rates are only available in branch or over the telephone.
The bank is offering rates of 1.49%, 1.99% and 2.49% for their two, three and five year terms respectively, with a product fee of £1495.
The maximum loan size is set at £750,000.
The highest rate fall for the bank’s higher LTV products is on its 90% five year fixed rate product, falling from 5.33% to 4.39%, with no fee. The next biggest fall is for a first-time buyer product – 90% five year fixed rate, decreasing from 5.23% to 4.35%, with no fee.
Rates have been cut on Help to Buy and other government scheme products by as much as 0.20%.
The bank has also introduced some new products with low rates in its range for existing mortgage customers.
Lloyd Cochrane, head of mortgages at RBS and NatWest said: “I’m delighted to be able to offer lower rates to customers and some of our best ever rates on lower loan to value mortgages.
“We want to continue with strong growth in our mortgage lending to homebuyers in 2015, helping as many customers as possible to buy their home as we play our role in the recovery and the future growth of the UK.”
