NatWest Intermediary Solutions is making reductions to its buy-to-let mortgages as well as cuts to a selection of its lower LTV residential deals tomorrow (9 April).
The buy-to-let deals will see reductions of between 10-55bps across its 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 made great in-roads into the buy-to-let market since we simplified our rental calculation 18 months ago. We have ambitions to continue our growth in buy-to-let by focusing on the smaller portfolio/non-professional landlord sector.
“These rate reductions should give intermediaries more attractive options to discuss with their landlord customers.”
Rate changes are as follows:
Buy-to-let – purchase and remortgage
Two-year fixed rate deals
£1,995 product fee:
60% LTV deal reducing by 50bps from 2.75% to 2.25%
75% LTV deal reducing by 21bps from 3.25% to 3.04%
£0 product fee:
60% LTV deal reducing by 55bps from 3.99% to 3.44%
Three-year fixed rate deals
£1,995 product fee:
60% LTV deal reducing by 10bps from 3.25% to 3.15%
75% LTV deal reducing by 34bps from 3.75% to 3.41%
£0 product fee:
60% LTV deal reducing by 21bps from 4.14% to 3.93%
Five-year fixed rate deals
£1,995 product fee:
60% LTV deal reducing by 38bps from 3.99% to 3.61%
75% LTV deal reducing by 36bps from 4.49% to 4.13%
£0 product fee:
60% LTV deal reducing by 50bps from 4.55% to 4.05%
Two-year tracker deals
£1,995 product fee:
60% LTV deal reducing by 40bps from 2.35% to 1.95%
75% LTV deal reducing by 11bps from 2.85% to 2.74%
£0 product fee:
60% LTV deal reducing by 45bps from 3.59% to 3.14%
Residential – purchase and remortgage
Two-year fixed rate deals
£995 product fee:
60% LTV deal reducing by 4bps from 1.49% to 1.45%
70% LTV deal reducing by 9bps from 1.78% to 1.69%
75% LTV deal reducing by 9bps from 1.88% to 1.79%
Three-year fixed rate deals
£995 product fee:
60% LTV deal increasing by 5bps from 1.99% to 2.04%
70% LTV deal reducing by 7bps from 2.32% to 2.25%
75% LTV deal reducing by 5bps from 2.55% to 2.50%
Five-year fixed rate deals
£995 product fee:
70% LTV deal reducing by 9bps from 2.74% to 2.65%
75% LTV deal reducing by 7bps from 2.85% to 2.78%
Two-year trackers
£995 product fee:
60% LTV deal reducing by 4bps from 1.39% to 1.35%
70% LTV deal reducing by 9bps from 1.68% to 1.59%