The fees deal, launched last month, allows intermediaries’ clients who have buy-to-let portfolios with another lender to remortgage up to five properties with NatWest and only have to pay two arrangement fees.
Customers are able to take advantage of this deal for NatWest fixed and tracker remortgage deals that have no standard valuation and legal fees. Brokers now have till 29 June to submit their first application to qualify for this deal and then have a three-month window - till 28 September - in which to submit the remainder of their cases.
Chris Pearson, director of intermediary mortgages, Royal Bank of Scotland, said: "This fees deal has proved to be very popular with brokers and we have seen the volume of buy-to-let sales increase as a direct result. As we have just improved the rental cover calculation for NatWest’s buy-to-let products, we wanted to give mortgage advisers the chance to benefit from both deals.
“Buy-to-let is one of the key areas we want to develop this year in the intermediary market, so we're continuing to make improvements to our product range. We recognise that in the buy-to-let market brokers are often dealing with multiple-property financing. That’s why I am delighted to be able to continue to offer brokers such a pioneering ‘5 for 2’ deal. By not charging a fee for the third, fourth and fifth property to be remortgaged with NatWest we are providing intermediaries with a really valuable offer to use with their clients.”
