NatWest cuts buy-to-let rates
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.”