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TODAY'S OTHER NEWS

NatWest cuts rates on select BTL products

NatWest has reduced rates on some buy-to-let and residential products.

On the lender’s buy-to-let switcher there are reductions of up to 0.15% on two- and five-year products between 60% and 90% loan-to-value (LTV).

NatWest’s latest cuts follow on from reductions made last month, when the lender also launched a selection of new buy-to-let products.

Among the highlight of the recently launched range is a 2.45% five-year fixed rate buy-to-let exclusive for purchases. It is available at 70% loan-to-value (LTV) and comes with a £995 product fee.

Mark Bullard, head of sales at NatWest, said: “We have taken this opportunity to reaffirm our commitment to the buy-to-let market by offering reductions on our two- and five-years deals across our exclusive and core ranges.”

NatWest also launched a simplified buy-to-let calculator, designed to make the initial affordability discussions brokers have with customers quicker and simpler for most cases.

Those eligible for it include landlords remortgaging from another lender to repay their existing outstanding mortgage on a like for like basis, small landlords, those with three or less buy-to-lets and portfolio landlords, those with four or more.

Bullard added: “We are happy to be launching the simplified buy-to-let calculator, on the strength of feedback we’ve received from brokers.

“We have reviewed our policy and are pleased we’re now be able to provide the market with an alternative lender option, signifying our intent to grow our market share in this sector.”

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