NatWest has announced it is cutting rates on a number of mortgage deals after inflation fell to its lowest level in more than two years. The major lender said selected five-year deals on purchases will see rates fall by up to 7 basis points - the equivalent of 0.07%. Some remortgage offers will decrease by up to 24 basis points , it added. However, selected two-year tracker deals will rise by up to 40 basis points .
'It's great to see NatWest wheel out the first of hopefully many lender rate reductions this week following the better than expected inflation data this morning. It is shaping up to be a positive week for the mortgage market,' Stephen Perkins, managing director at Yellow Brick Mortgages, told Newspage.
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