NatWest cuts its SVR by 0.25%

NatWest today announces that its Standard Variable Mortgage Rate will be cut by 0.25 per cent to 7.44 per cent.

The reduction follows a review after the Bank of England's Monetary Policy Committee (MPC) decision to cut rates by 0.25%. The rate change is effective from 18 February 2008 for new customers and from 1st March 2008 for existing customers.

The NatWest Offset Flexible Mortgage will be cut by 0.25 per cent for new and existing customers from 1st March 2008. Any existing customers with NatWest mortgages that track the Bank of England Base rate will benefit from a cut of 0.25 per cent from the same date.

NatWest confirmed that its savings rates are under review.