NatWest mortgage rate cut

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NatWest mortgage rate cut

Following yesterday's decision by the Bank of England to cut interest rates from 5.25 per cent to five per cent, NatWest has announced that it is to reduce its standard variable rate by a quarter point.

The change will be effective from April 21st for new customers and from May 1st for existing customers.

NatWest has also decided to cut the rate on its Offset Flexible Mortgage by 0.25 per cent, which will be put in place for both new and existing customers from May 1st.

In addition, any current customers with a NatWest mortgage that tracks the Bank of England base rate will also benefit from a reduction of the same value.

Nationwide has also declared that its standard variable and tracker rates by will fall by 0.25 per cent.

The building society's standard variable rate now stands at 6.49 per cent, which it claims is one of the lowest available on the high street.
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