Natwest remortgage

mazdaq199

Our Natwest 2yr fix comes to an end at the end of August. I'm wondering if anyone knows if last week's base rate cut has yet been factored into their current fixed rates? Or whether I should hold on a little longer before selecting our new deal with them.

ACG

They are reducing some rates tomorrow I think. 
But to be honest, I did a switch today (typical eh!) and the rate came down by 0.03% from 2 months ago. 

The base rate change was generally expected so a lot of the base rate reductions were done in the last 2 weeks. 

Archerychick

In most cases the base rate cut is already baked into the mortgage rates you see. 

Not sure about NatWest, but some mortgage co’s will also let you transfer onto a lower rate before you nee fix beginns

mazdaq199

Thanks both - it looks like it hasn't dropped today, will keep checking and report back if it does go lower.

ChatGPT said they dropped rates by about 0.36% 2 weeks ago - I didn't realise that they tended to pre-empt the actual base rate change, even though I know the drop was widely expected.

kingstreet

mazdaq199 said:

Thanks both - it looks like it hasn't dropped today, will keep checking and report back if it does go lower.

ChatGPT said they dropped rates by about 0.36% 2 weeks ago - I didn't realise that they tended to pre-empt the actual base rate change, even though I know the drop was widely expected.

Yes. That's because fixed rates are based on SONIA swap rates and not on the BOE base rate.

mazdaq199

2 year fix has dropped slightly since I last checked earlier this week - now 4.2%, down from 4.26% (zero product fee). Think I'll lock that in.