It is thought that the mortgage has been created to specifically target those with a loan-to-value requirement of around 90 per cent.
Discussing the product, NatWest's head of branch mortgage said: "At a time when there is uncertainty and complexity within the mortgage market, we wanted to offer our customers a competitive and transparent mortgage deal.
"With no set up fees and the downward stepping of the interest rates, we are confident that our new deal will be popular with remortgage customers."
NatWest also recently launched a new savings account designed to help first time buyers build up a deposit for house purchase.
The First Home Saver Account offers consumers a tax-free cashback of around £5,000 when they sign up to one of the company's mortgages.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.