The lender also increased its mortgage balances by £3.9bn (4%) to stand at £103.2bn.
The bank now offers a 70% LTV 2-year fix at 1.78% and a 70% LTV 5-year fix at 2.74%, both with a £995 fee, while borrowers looking for no fee products can take out 70% LTV rates at 2.34% and 2.98% respectively.
Lloyd Cochrane, head of mortgages at RBS and NatWest, said: “I’m delighted to be able to offer lower rates to customers and some of the best rates in the market today.
“We want to continue to help as many customers as possible to buy their home or save money on their mortgage as we play our role in the recovery and the future growth of the UK.”
The lender’s first-time buyer exclusive range includes a 2-year fix at 2.29% to 80% LTV with no fee, and a 5-year fix at 3.25% to 80% LTV with no fee.
On its buy-to-let range its cheapest rate is a 60% LTV 2-year fix at 2.45% with a £1,995 fee, while borrowers can also choose a similar fee free product at 3.69%.
