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TODAY'S OTHER NEWS

NatWest and Barclays change rates for BTL mortgage products

Barclays and NatWest have introduced rate changes to some of their buy-to-let purchase mortgage products.

Barclays has raised rates across no fewer than 62 products on its buy-to-let, residential and Help to Buy ranges by up to 12bps.

The lender blamed the recent increase in the cost of funds for the hikes. 

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NatWest has also raised rates, which it said reflected ‘current market conditions’.

Some of its two-year fixed rate BTL purchase products have increases of one to 3bps, while some five-year fixed rate purchases are up by between 6 and 11bps.

Natwest has also made changes to some buy-to-let remortgages, particularly the two-year fixed rate deals, which are up by between one and 6bps.

A NatWest Intermediary Solutions spokesman said: “Having reviewed our portfolio we have made some adjustments to rates to reflect the current market conditions and balance our mix of business.”

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