NatWest cuts its SVR by 0.25%

NatWest has announced that its Standard Variable Mortgage Rate will be cut by 0.25 per cent from 7.44 per cent to 7.19 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 21 April 2008 for new customers and from 1 May 2008 for existing customers.

The NatWest Offset Flexible Mortgage will be cut by 0.25 per cent for new and existing customers from 1 May 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.