NatWest Intermediary Solutions will be introducing a number of new 70% buy-to-let mortgages for intermediaries and making some significant rate reductions to many of its existing buy-to-let products on Friday 8 May.
It is also making cuts to the rates on its lower LTV five-year residential deals. The new buy-to-let deals offer brokers a choice of fee or no fee over two, three and five-year terms. The existing buy-to-let deals will see reductions of up to 44bps across the two, three and five-year fixed rate and two-year tracker products.
Paul Kane, acting head of sales at NatWest Intermediary Solutions, said: “We have had a sustained focus on growing our presence in the buy-to-let sector and I would expect that these rate changes and the introduction of the new 70% LTV deals will further enhance our proposition for mortgage advisers.”
Here is a summary of the new deals:
Buy-to-let – purchase and remortgage
2 year fixed rate deals
£1,995 product fee: 70% LTV 2.75%
£0 product fee: 70% LTV 3.58%
3 year fixed rate deals
£1,995 product fee: 70% LTV 3.22%
£0 product fee: 70% LTV 4.19%
5 year fixed rate deals
£1,995 product fee: 70% LTV 3.85%
£0 product fee: 70% LTV 4.44%
Here is a summary of the rate changes:
Buy-to-let – purchase and remortgage
2 year fixed rate deals
£1,995 product fee:
60% LTV reducing by 1bp from 2.25% to 2.24%
75% LTV reducing by 25bps from 3.04% to 2.79%
£0 product fee:
60% LTV reducing by 36bps from 3.44% to 3.08%
75% LTV reducing by 44bps from 4.19% to 3.75%
3 year fixed rate deals
£1,995 product fee:
60% LTV reducing by 43bps from 3.15% to 2.72%
75% LTV reducing by 9bps from 3.41% to 3.32%
£0 product fee:
60% LTV reducing by 29bps from 3.93% to 3.64%
75% LTV reducing by 24bps from 4.69% to 4.45%
5 year fixed rate deals
£1,995 product fee:
60% LTV reducing by 12bps from 3.61% to 3.49%
75% LTV reducing by 14bps from 4.13% to 3.99%
£0 product fee:
60% LTV reducing by 17bps from 4.05% to 3.88%
2 year tracker deals
£1,995 product fee:
75% LTV reducing by 25bps from 2.74% to 2.49%
£0 product fee:
60% LTV reducing by 36bps from 3.14% to 2.78%
75% LTV reducing by 34bps from 3.79% to 3.45%
Residential – purchase and remortgage
5 year fixed rate deals
£995 product fee:
60% LTV reducing by 11bps from 2.30% to 2.19%
70% LTV reducing by 7bps from 2.65% to 2.58%
