To its core range has added a 2 year buy-to-let tracker mortgage offering an initial rate of 3.99%, with a £1,999 fee, up to 60% LTV. And, into its corporate range it has introduced a 2 year fixed rate remortgage offering an initial rate of 3.89%, with a £999 fee, up to 75% LTV.
In addition, the rates on its 2 year fixed rate 60% LTV mortgages in its corporate range are to be reduced by 0.10%. The purchase mortgage will reduce from 3.29% to 3.19% and the remortgage rate will decrease from 3.34% to 3.24%.
Graham Felstead, head of intermediary channel, NatWest Intermediary Solutions said, “Having experienced a significant decline in market size in line with the residential market, the buy-to-let sector has displayed a considerable amount of stability over the last year or so with around £2.1bn of gross advances being made each quarter since Q1 2009. And, there are signs that the health of this sector is on the up, evidenced by the improvement in the arrears rate for buy-to-let properties. For those buy-to-let investors who are back in the market our new tracker deal offers them an attractive deal.
“With the expectation that we could see rates start to rise sometime in 2011, it’s a good time for intermediaries to investigate the potential benefits of remortgaging their residential clients. The rate on our new remortgage product will compare well to the current SVRs that brokers’ clients find themselves on.”
