NatWest updates mortgage rates

NatWest has announced that its Standard Variable Mortgage Rate would increase by 0.25 per cent to 7.94 per cent.

The rate change is effective from 16 July 2007 for new customers and from 1st August for existing customers. The change in rates follows a review after the Bank of England's Monetary Policy Committee (MPC) decision to increase rates by 0.25% earlier this month.

The NatWest Offset Flexible Mortgage will increase by 0.25 per cent for new and existing customers from 1st August 2007. Any existing customers with NatWest mortgages that track the Bank of England Base rate will be subject to an increase of 0.25 per cent from the same date.

NatWest confirmed that its savings rates would remain under review.