RBS, NatWest launch cheaper mortgages

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RBS, NatWest launch cheaper mortgages

NatWest and its parent company, the Royal Bank of Scotland (RBS), have announced the launch of a range of cheaper mortgage packages onto the market.

The banks are both launching fixed-rate offerings for two, three, four or five years, with interest rates starting at 3.99 per cent.

RBS and NatWest have said that all of the interest rates on these cheaper offerings have been lowered by at least 0.25 per cent and some of the rates are 0.7 per cent cheaper.

Andy Fell, the director of branch mortgages for the banks who announced the deal, said: "We believe this attractive new range of fixed rates gives us a great opportunity to help our customers secure lower rates and potentially save some money on their monthly repayments."

RBS and NatWest did not reduce their standard variable interest rate for mortgages following last week's cut in the base rate and only passed on the cuts to their tracker mortgage customers.

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