RBS and NatWest launch sub-4% fixed rate mortgage
RBS Group, whose subsidiaries include the Royal Bank of Scotland and NatWest, has launched a new fixed rate mortgage at 3.99% interest.
The two year deal is available to new and existing customers with a loan to value (LTV) of 60%. It has a £799 set up fee.
Other fixed rate mortgages offered by RBS Group have also been reduced by at least 0.25%, with some reduced by as much as 0.70%.
Andy Fell, RBS director of branch mortgages, said the reduced rates are a ‘great opportunity’ for customers to save money.
In addition, current RBS customers holding a packaged account receive a 30% reduction off selected product fees.
Neither RBS nor NatWest reduced their standard variable interest rate for mortgages after last week’s 0.5% base rate cut; the cut was passed on only to tracker mortgage customers.