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TODAY'S OTHER NEWS

NatWest reduces BTL rates by 0.5%

NatWest has cut rates across its buy-to-let ranges by up to 0.5%.

Two-year fixed rate buy-to-let products now start from 2.77% at 60% loan-to-value (LTV), while its 70% LTV products now start from 3.02% at 70% LTV and 3.07% up to 75% LTV.

Five-year rates are now available at 3.04% up to 60% LTV, 3.48% to 70% LTV and 3.57% to 75% LTV.

A recent survey by NatWest revealed that almost two-fifths of landlords are feeling positive about the future of the rental market, and are thinking about buying more properties to rent.

The study found that portfolio landlords are generally keenest to expand with almost half - 48% - of landlords surveyed with three properties and 41% of landlords with four properties wanting to invest more in buy-to-let.

Landlords in the North-East and North-West were more likely to affirm they were looking for more buy-to-let properties, with 51% in the North-East and 44% in the North West. This compared with just 30% of South East landlords.

For those of you that may be interested, NatWest also reduced rates across its residential products, with two-year fixed rate residential deals now starting from 1.59% up to 75% LTV, 1.78% at 80% LTV, 1.88% at 85% LTV and 2.2% up to 90% LTV.

Mark Bullard, head of sales at NatWest, said: “We have taken this time to reposition our portfolio to reflect the current market conditions and balance our mix of business. This includes reductions of up to 50bps in selected two and five-year deals.”

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