NatWest has announced the launch of its green buy-to-let product on 24 November.
The green buy-to-let mortgage product offers customers a preferential interest rate for having an energy performance certificate (EPC) rating of A or B.
Validation of properties energy performance rating will only be verified against the government EPC registers.
In addition, NatWest is launching its first ever 65% LTV buy-to-let remortgage product as well as a 75% LTV product in both purchase and remortgage rates.
Eligible products will be displayed across all sourcing systems.
NatWest is also making rate changes across its product portfolio.
These are as follows:
New Business:
New Products:
- Green Buy to Let – Purchase: 4 new products covering 2 and 5 year deals at 65% and 75% LTV
- Green Buy to Let – Remortgage: 4 new products covering 2 and 5 year deals at 65% and 75% LTV
Rate Changes:
- Purchase: Rate increases of up to 14bps and 16bps on selected 2 and 5 year deals respectively
- Remortgage: Rate increases of up to 13bps and 16bps on selected 2 and 5 year deals respectively
- First time buyer Rate increases of up to 5bps and 8bps on selected 2 and 5 year deals respectively
- Shared equity purchase: Rate increases of up to 14bps on selected 2 year deals
- Help to Buy shared equity purchase: Rate increases of up to 14bps on selected 2 year deals
- Buy to Let Purchase: Rate decreases of up to 24bps and 10bps on selected 2 and 5 year deals respectively
- Buy to let Remortgage: Rate decreases of up to 10bps on selected 2 year deals, and an increase of 7bps on 60% LTV 2 year deal
- Green Purchase: Rate increases of up to 12bps and 16bps on selected 2 and 5 year deals respectively
- Green Remortgage: Rate increases of up to 13bps and 15bps on selected 2 and 5 year deals respectively
Rate Changes and Cashback changes:
- Purchase: Rate decrease of 5bps on 90% LTV 2 year product, with cashback increasing to £250. Cashback also increases to £250 on 90% LTV 2 year product with no product fee
- Remortgage: Rate decrease of 3bps on 85% LTV 2 year product, with cashback increasing to £250
- Mortgage Guarantee Scheme: Rate decrease of 16bps and 17bps on 2 and 5 year 95% LTV products, with cashback increasing to £750
Existing Customer:
Rate Changes:
- Switcher: Rate increases of up to 10bps and 15bps on selected 2 and 5 year deals respectively