The new buy-to-let mortgage is a 60% LTV, 2 year fixed rate, offering an initial rate of 5.39% with a £999 fee, available to all registered intermediaries through its core range.
To its corporate range it has added a new fee-free 60% LTV, 2 year tracker purchase mortgage, offering an initial rate of 2.95%.
Rates have been lowered on a number of its core range purchase and remortgage products – the 18 month tracker, 75% LTV, is 0.2% lower from 3.09% to 2.89%; the 2 year fixed rate, 75% LTV, is 0.29% lower from 3.94% to 3.65%; and the 2 year fixed rate buy-to-let, 75% LTV, is down 0.1% from 5.79% to 5.69%.
In its corporate range, rates have been lowered on its 60% LTV products for purchase and remortgage. The 2 year fixed rate has dropped 0.3% from 3.55% to 3.25%, with the fee increasing from £699 to £999. The 5 year fixed rate has also dropped 0.3% from 4.79% to 4.49%, with the fee increasing from £699 to £999. The 2 year tracker remortgage has dropped 0.1% from 3.05% to 2.95%.
Mark Bullard, head of sales, NatWest Intermediary Solutions said: “The buy-to-let market continues to offer intermediaries opportunities to grow their business, so the new buy-to-let product and lower rates on existing products should provide advisers with more choice. We won’t charge brokers’ clients basic legal and valuation fees for a standard remortgage on the new 60% LTV buy-to-let product that we have introduced into our core range.”
