Mortgage rates across the buy-to-let range will be slashed by up to 23 basis points, with reductions across its high LTV residential range, including a decrease of 45bps on its five-year fixed rate mortgage at 90% LTV.
The reduction on its five-year residential fix will take the rate from 4.19% to 3.73%, and comes with a £995 product fee. Further highlights from its residential range include its two-year fixed rate deal at 90% LTV which is down from 3.38% to 3.10%, and its two-year fixed rate 95% LTV Help to Buy mortgage reduced from 4.49% to 4.37%.
Rate cuts across its buy-to-let range include its five-year fixed rate with 70% LTV and £1,995 product fee decreasing by 23bps from 3.85% to 3.62%, and its two-year tracker with 75% LTV decreasing by 11bps from 3.45% to 3.34%.
Paul Kane, acting head of sales, Natwest Intermediary Solutions, said: “We continue to have a healthy appetite to grow our presence in the buy-to-let market and have been working hard alongside out broker partners to improve our proposition in this competitive sector. These rate changes should provide a good indicator of our intent to make further progress with buy-to-let business for the reminder of this year and into 2016.
”We have maintained a strong commitment to first-time buyers by including a range of higher LTV residential and specific Help to Buy scheme products in our intermediary portfolio, so I am delighted that we are able to improve the rates on these deals, supporting customers looking to buy their first property.”