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NatWest Moves its Rates
(15 August 2005)

NatWest today cuts the rate on its Offset Flexible Mortgage by 0.30 per cent to 5.35 per cent. It is also cutting its NatWest One headline rate by 0.25 per cent from 1 September 2005. The change in rates follows a review after the Bank of England's Monetary Policy Committee (MPC) decision to reduce rates by 0.25% earlier this month.

The Bank's Standard Variable Mortgage Rate is being reduced by 0.20 per cent to 6.59 per cent. The rate change is effective from today for new customers and from 1 September 2005 for existing customers.

NatWest is also lowering its savings rates. Interest rates on NatWest's First Reserve, Reward Reserve, Advantage Reserve, 90 Day Bonus Reserve and Private Banking Savings Account will reduce by 0.25% from today. However, for the Mini Cash ISA and Young Saver accounts the 0.25% reduction will not take effect until 1st September.