Natwest and Royal Bank of Scotland have offered customers additional debt help by reducing rates on their fixed-rate mortgages.
Customers who opt for fixed deals will benefit from rates that have been lowered by 0.35 per cent to 0.60 per cent, as well as smaller arrangement fees that have been cut by up to £500.
The new rates are available for those looking to remortgage or buy their first property, the banks revealed.
They can choose from two or five-year fixed-rates deals, with loan-to-values ranging from 75 per cent up to 95 per cent.
Andy Fell, director of branch mortgages, commented: “We remain committed to making lending available to ensure we support our customers during these challenging economic conditions.”
Meanwhile, Abbey has also cut rates on its three-year fixed mortgages after its research showed that fixed deals are still growing in popularity – despite the Bank of England’s base rate reduction, which lowered the cost of tracker products.