NatWest mortgage rates:
the full table and a switch-or-stay view

Every product above is available in a fee-free version at a higher rate: 5.29%, 5.43% and 5.60% on the 2-year fixes and 5.14%, 5.28% and 5.44% on the 5-year fixes at the same three LTV bands. The Standard Variable Rate (SVR), which these deals revert to when the fixed period ends, is 6.74%. NatWest lends up to 95% LTV, with a 5-year fixed at 5.75% and a 2-year fixed at 5.85% at that band, both fee-free. Green versions of the fixed rates, for homes with an Energy Performance Certificate (EPC) rating of A or B, price 0.05 points below the standard products at 60% and 75% LTV.

The fee question is sharper at NatWest than at most lenders because the fee-free gap moves around by LTV band: 0.20 points on the 2-year fixed at 60% LTV but only 0.17 points at 75%. On the 2-year fixed at 60% LTV that 0.20 point gap is worth about £400 a year per £200,000 borrowed, so over a 2-year term the £995 fee only pays for itself on loans above roughly £250,000. On the 5-year fixed at 60% LTV the gap is 0.14 points and the break-even is about £145,000, lower because the saving runs for five years. Below those loan sizes the fee-free product tends to win, which is exactly the arithmetic a broker runs before recommending the headline rate.

NatWest's remortgage range is priced separately. At the same check its lowest 2-year fixed remortgage rate was 5.14% with a £995 fee on the green version and 5.19% on the standard product, with the 5-year at 5.08% and 5.13% on the same basis, 0.10 points above the equivalent purchase rates on the 2-year and 0.13 points above them on the 5-year, with NatWest also paying the standard legal fees and valuation on a remortgage. Whether that trade favours you depends on your balance, and our remortgaging guide sets out how to weigh a free legal package against a lower rate elsewhere.

What changed in NatWest's mortgage pricing this month?

NatWest's cheapest 2-year fixed at 60% LTV has risen from 3.57% in mid-January 2026 to 5.04% at our 17 October check, about one and a half percentage points in nine months. The bank cut three times in a fortnight in June, raised fixed rates by up to 0.27 points from 17 July, raised three times in September, on 5, 12 and 17 September, trimmed the range slightly from 24 September, raised it again from 3 October, then cut it back from 15 October.

NatWest has been one of the most active repricers in the market all year, which is why this page carries a checked date rather than any claim to be live. In January its cheapest 2-year fix at 60% LTV sat at 3.57% with a £1,495 fee. By June it was cutting across its new business, existing customer and additional borrowing ranges three times in a fortnight, as our round-up of the June rate cuts recorded. Then the direction turned. From 17 July NatWest raised fixed rates by up to 0.27 points after the Middle East ceasefire collapsed and gilt yields jumped, early August brought a mixed round of cuts and increases rather than a clear move either way, and a further round of increases across the residential fixed range took effect on 5 September, adding between 0.03 and 0.18 points depending on LTV and term, followed by two more rounds on 12 and 17 September that together added between 0.31 and 0.48 points to the standard fixed rates in the table. From 24 September NatWest gave a little back, cutting the standard fixed rates in the table by 0.01 to 0.06 points and the 95% LTV fee-free fixes by up to 0.18 points, and moving its fixed-rate end dates to 31 January 2029 and 31 January 2032. From 3 October it raised the standard fixed rates in the table again, by up to 0.11 points, and the 95% LTV fee-free fixes by up to 0.23 points, leaving its purchase trackers unchanged. From 15 October it reversed most of that rise, cutting the standard fixed rates in the table by 0.02 to 0.10 points, the fee-free fixes by up to 0.08 points, the 95% LTV fixes by 0.02 and 0.03 points, and the purchase trackers at 60% and 75% LTV by 0.02 and 0.04 points.

The shape of the range at this check is worth reading closely. At 60% LTV the 5-year fixed at 5.00% is nine basis points below the 2-year at 5.09%, and at 75% LTV the 5-year at 5.13% is thirteen basis points below the 2-year at 5.26%. At 90% LTV the 5-year at 5.31% sits five basis points below the 2-year at 5.36%. The 15 October cut took more off the 2-year fixes than the 5-year, so the gap has narrowed from sixteen basis points at 60% LTV on 7 October, but it is still an inverted curve at every band in the table, and it means NatWest is pricing five years of certainty below two years right across its range.

The wider backdrop is a Bank of England base rate held at 3.75% again on 17 September on a 6-3 vote, with three members voting for a rise to 4%, and the next decision due on 5 November 2026. Our UK interest rate projection tracks the market-implied path around each decision, and at this check that path points modestly higher rather than lower, which is the context for the tracker decision below.

Is a NatWest tracker or fixed rate the better deal right now?

NatWest's 2-year tracker at 60% LTV is priced at 4.08%, base rate plus 0.33 points, which is 1.01 points below its 2-year fixed at 5.09%. The fix only wins if the base rate averages more than about 4.75% over the two years, and NatWest lets tracker customers move to a fixed rate without an early repayment charge.

This is the decision NatWest's pricing puts in front of you. Its trackers are priced aggressively: 4.08% at 60% LTV, 4.19% at 75% and 4.72% at 90%, each with a £995 fee, against fixed rates of 5.09%, 5.26% and 5.36% at the same bands. On a £250,000 repayment mortgage over 25 years, the 60% LTV tracker costs about £144 a month less than the fix at today's base rate.

The trade is exposure to the Bank of England. The base rate would need to rise by more than 1.01 points on average across the two years, to above 4.76%, before the fix comes out ahead on interest alone, and the current committee is split between holding and raising rather than cutting. So the tracker is a bet on base rate staying close to where it is, not a free lunch. To see how NatWest's tracker margin sits against the other big lenders, our tracker rates by lender table lines them up band by band.

What tilts the balance is NatWest's own switching rule. A NatWest customer on a tracker can move to any NatWest fixed rate without paying an early repayment charge, so a borrower who takes the tracker keeps the option to lock in later if the Bank starts raising. That option is not universal across lenders, and it is the reason a NatWest tracker can suit a borrower who would never take one elsewhere. Our fix now or wait analysis covers the wider rate outlook that decision rests on.

If your current deal ends within the next six months and you want the tracker-versus-fix numbers run on your own balance before the 5 November decision, call 01202 155992 or contact Mortgage One.

Which borrowers do NatWest's lending criteria suit?

NatWest suits mainstream residential borrowers with clean credit, including first-time buyers with a 5% deposit, self-employed applicants with two years of accounts, and families using its Family-Backed Mortgage, where a parent joins the mortgage without owning the property. Terms run from 3 to 40 years, up to age 75 on repayment.

NatWest is a volume lender for straightforward cases rather than a specialist. Repayment mortgages can run to age 75 at the end of the term, interest-only to 70, and terms of 3 to 40 years are available, which helps affordability for younger buyers. Lending goes to 95% LTV, so a 5% deposit is workable on the right property, and our loan-to-value calculator shows which pricing band a given deposit lands in.

Self-employed applicants need at least two years of trading, with two years of certified accounts, an SA302 and a tax year overview. Sole traders are assessed on net profit for the last two years, partners on their share of it, and limited company directors on salary and dividends over the same period. A strong latest year with a weaker year before it is assessed more generously by some other lenders, which is the sort of case we place elsewhere.

The Family-Backed Mortgage is NatWest's joint borrower sole proprietor product. A second person, usually a parent, joins the mortgage and is fully liable for it without taking any ownership of the property. The main applicant needs an income of at least £20,000, both parties must be aged 18 to 75 and UK resident, and the non-owner must take independent legal advice. It is a practical route for a buyer whose income falls just short on their own. Our guide to JBSP mortgage lenders sets NatWest's two-applicant limit against lenders that accept up to four incomes on one application. Criteria change and every case has its own wrinkles, so treat this as a broker's-eye view rather than a promise on any individual application.

Already with NatWest? Switch, stay or move

NatWest opens its switch window about four months before a deal ends, needs no new credit or affordability check for a like-for-like switch, and sets your LTV from the higher of its house price index estimate and your last valuation. There is no early repayment charge to leave the SVR or to move from a tracker to a fix.

NatWest's existing-customer process is quick and mostly online through Manage your Mortgage. The roll-off window opens around four months before the current deal ends, NatWest contacts you at that point, and a switch on the same balance, term and repayment type goes through without a fresh credit check, affordability assessment or valuation. The LTV used to price your switch is the higher of NatWest's free house price index estimate and the last valuation it holds, which can drop you into a cheaper band without you doing anything.

Early repayment charges set the timing. There is no charge to switch off the SVR at any time and none to move from a NatWest tracker to a NatWest fixed rate, but leaving a fixed deal before it ends usually costs a percentage of the balance, and NatWest will only quote that figure once you ask. NatWest also lets you overpay up to 20% of the balance on each sub-account a year before a charge applies, which is double the 10% most lenders allow and is worth using before a switch to nudge the LTV over a band boundary.

The decision itself has three answers, not two. Stay on the current deal until it ends if the early repayment charge outweighs the saving. Switch with NatWest if its retention rate holds up against the market once fees are included, and our product transfer guide explains how that comparison works. Move to another lender if your LTV has improved, your income is assessed more kindly elsewhere, or a competitor is simply cheaper on the day. NatWest's own pricing for borrowers moving in from another lender is set out on our page on NatWest remortgage rates, a ready yardstick for any switch offer. The switch menu is one lender's pricing on one day, and the retention rates NatWest shows you sit behind a login, so the only way to know where they stand is to price them against the whole of market before you accept. Doing nothing is the outcome to rule out early, because a lapsed deal rolls onto the SVR at 6.74%.

For a lender-by-lender view of where NatWest sits, our HSBC mortgage rates page tracks the same table for HSBC on the same checked-date basis, and our UK mortgage rates chart shows the market average in each LTV band so you can see whether a NatWest rate is sharp for your band or merely typical. Royal Bank of Scotland sells the same NatWest Group range at the same prices, and our page on RBS mortgage rates shows where the two brands differ.

Before you accept NatWest's switch offer, or for a free initial consultation on whether NatWest fits your case at all, call 01202 155992 or contact Mortgage One.

Back to Rate Forecast and Economic Drivers

The information provided in this article is for general guidance only and does not constitute personal or regulated financial advice. If you'd like to understand what these moves could mean for you, speak to Mortgage One. We can explain your options and timings based on your specific circumstances.

FAQs

1. What are NatWest's mortgage rates at the latest check? At our 17 October 2026 check, NatWest's advertised residential purchase rates started at 5.09% on a 2-year fixed and 5.00% on a 5-year fixed at 60% LTV, each with a £995 product fee, with a 2-year tracker at 4.08% and the SVR at 6.74%.

2. How much will NatWest lend me? Between 4 and 6.5 times your income, depending on your income band, your loan to value and whether you apply alone or jointly: 4.45 times below £40,000, 6 times from £75,000 joint or £100,000 sole, and 6.5 times for joint incomes of £150,000 or more at up to 75% LTV. NatWest's affordability check then decides the final figure.

3. Is NatWest dropping mortgage rates? Slightly, at the latest move: from 15 October 2026 NatWest cut its standard fixed rates by 0.02 to 0.10 points, reversing most of the 3 October rise. Before that it cut three times in a fortnight in June 2026, raised fixed rates by up to 0.27 points from 17 July and increased its residential range three times in September 2026. Its cheapest 2-year fixed at 60% LTV has moved from 3.57% in January to 5.04% now, so the trend over 2026 has been upward, not down.

4. What is NatWest's Standard Variable Rate? NatWest's SVR is 6.74% at our 17 October 2026 check. It is the rate a mortgage reverts to when a fixed or tracker deal ends, and the gap between it and the fixed rates in the table above is the cost of letting a deal lapse.

5. Can existing NatWest customers get a better rate? Yes. NatWest offers existing customers a product switch through Manage your Mortgage from about four months before the current deal ends, with no new credit or affordability check on a like-for-like switch and no early repayment charge to leave the SVR or move from a tracker to a fix.

6. Does NatWest do tracker mortgages? Yes, and they are the cheapest products in its range at this check: a 2-year tracker at 4.08% at 60% LTV, base rate plus 0.33 points, against a 2-year fixed at 5.09%. NatWest lets tracker customers switch to any of its fixed rates without an early repayment charge, which makes the tracker a more flexible option than at many other lenders.

7. Is it better to fix for 2 or 5 years with NatWest? There is no universal answer, but NatWest's current pricing makes the question cheap to weigh. At 60% LTV the 5-year fixed at 5.00% is nine basis points below the 2-year at 5.09%, at 75% LTV the 5-year is thirteen basis points cheaper, and at 90% LTV it is five basis points cheaper, so five years of certainty costs nothing extra at any band.

8. Will mortgage rates drop to 3% again? Not on the current outlook. NatWest's cheapest 2-year fix was 3.57% in January 2026 and sits at 5.04% now, the Bank of England held the base rate at 3.75% on 17 September with three votes for a rise, and the market-implied path points modestly higher into 2027. Fixed rates near 3% would need swap rates to fall well below today's levels.

9. Do I need a broker to get a NatWest mortgage? No, NatWest lends directly, but a broker compares its pricing and criteria against the rest of the market on the same day, runs the fee-versus-rate and tracker-versus-fix arithmetic on your actual loan size, and can place a case NatWest declines with a lender that suits it. Mortgage One is a whole of market mortgage adviser and the initial consultation is free.