NatWest makes big cuts to buy-to-let rates
NatWest is making interest rate cuts of more than 1% on many buy-to-let mortgages and slashing some product fees by £1,000.
It will also be making rate reductions on two 95% loan-to-value (LTV) residential deals.
A total of 15 buy-to-let rate changes will go live today, with the biggest rate reduction on a five-year fixed-rate buy-to-let deal, up to 70% of the property’s value, The deal, which is fee free, is being cut by 1.56% to 3.08%.
In all, five two-year and five-year fixed-rate deals will see rates cut by at least 1%. Meanwhile, nine buy-to-let deals will see product fees cut from £1,995 to £995.
Residential rate cuts
NatWest is also cutting rates on two 95% loan-to-value residential mortgages.
A two-year fix with no fee will be cut by 0.38% to 3.95%, while the five-year fix will be cut by 0.36% to 4.45%.
NatWest head of sales Mark Bullard, said: “We want to remain competitive in this sector and will continue to work on developing our buy-to-let proposition.”