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NatWest cuts buy-to-let rates

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NatWest has cut rates across both its buy-to-let and residential ranges from today.

The lender has lowered rates on its buy-to-let range for borrowers who take out a NatWest loan via a mortgage broker.

The changes take place today, Friday 8 May.

The bank has boosted the number of products available to landlords with a 30% deposit while other products have had rates reduced.

The new buy-to-let deals offer landlords a choice of fee or no-fee over two, three and five-year terms.

Its existing products have had rates slashed by up to 0.44%. These reductions include two, three and five year fixed rate products plus two-year trackers.

In its residential range the lender had cut five-year fixes at 60% LTV from 2.30% to 2.19% and a 70% LTV has been lowered from 2.65% to 2.58%.

Paul Kane, acting head of sales at NatWest Intermediary Solutions, said the lender was targeting the buy-to-let market.

We have had a sustained focus on growing our presence in the buy-to-let sector,” he said.

“I would expect that these rate changes and the introduction of the new 70% LTV deals will further enhance our proposition.”

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