NatWest launches fee free re-mortgage step down tracker

The 3 year step down tracker mortgage is completely fee-free, meaning there are no set up fees, no legal, valuation or CHAPS fees to pay for a standard re-mortgage.

The 3 year step down tracker has a decreasing rate of interest, which means the interest rate will decrease in each of the 3 years. The new fee free mortgage deal is available to those looking to remortgage, with a loan-to-value (LTV) requirement of up to 90%.

In addition, the new mortgage offers customers a ‘Track & Switch' facility, allowing customers to switch to a different NatWest fixed rate mortgage product after 3 months if they wish. Andy Fell, Head of branch mortgages said: "At a time when there is uncertainty and complexity within the mortgage market, we wanted to offer our customers a competitive and transparent mortgage deal.

"With no set up fees and the downward stepping of the interest rates, we are confident that our new deal will be popular with remortgage customers."