NatWest, Royal Bank of Scotland and Ulster Bank NI pass base rate cut to Standard Variable Rate customers in full


NatWest, Royal Bank of Scotland and Ulster Bank NI pass base rate cut to Standard Variable Rate customers in full

NatWest, Royal Bank of Scotland and Ulster Bank NI have announced their Standard Variable Rate (SVR) for mortgages will be reducing by 0.25% in line with the Bank of England base rate reduction, bringing the rate for customers from 4.00% down to 3.75%.

 

Ross McEwan, RBS CEO, said:

“We’re passing on the base rate cut in full to our valued mortgage customers on our standard variable rate. We have been the fastest growing large UK bank with net lending growth of over £20bn in the first half of the year - higher than any other bank. We’re open for business and ready to lend responsibly to homebuyers up and down the country”.

RBS has seen strong growth in gross new mortgage lending at £14.7 billion in the first half of the year, 62% more than the same period last year. The bank has mortgage advisers at 1000 branches and on the phone and aims to help more customers buy a new home or save money on their mortgage this year.


 

Disclaimer

This article is for media use only and is not a financial promotion.

Latest news

Women and millennials help drive £17bn+ franchise sector to record levels

New research from NatWest and the British Franchise Association (bfa) highlights changes and profitability in the sector.

Winners announced for Skills & Opportunities Fund

52 winning organisations have been announced for round two of the 2018 Skills & Opportunities Fund.

RBS Multicultural Network meets Eric Holder, 82nd US Attorney General

Simon McNamara, RBS Chief Administrative Officer and Executive Sponsor of the RBS Multicultural Network, recently hosted an event in discussion with Eric Holder, the first black US Attorney General. They discussed career, ethnicity, diversity and even a little bit of politics. At the event, Eric Holder shared his wisdom and experience with attendees from the RBS Executive committee and RBS Multicultural Network. Simon McNamara blogs about his experience meeting Eric, a BAME role model, and why diversity is so important to RBS.

Set Tab for lightbox