NatWest cuts BTL rates by up to 146 basis points and removes cashback

NatWest cuts BTL rates by up to 146 basis points and removes cashback

 

This headline reduction was made within its buy-to-let offering on its 75 per cent loan to value (LTV) five-year fixed fee-free remortgage product, which was cut to 2.01 per cent. 

Other significant cuts include the two-year fixed buy-to-let remortgage at 60 per cent LTV, which was reduced from 2.77 per cent to 1.63 per cent. This product also has no fee. 

There was also the 70 per cent LTV five-year fixed fee-free buy-to-let remortgage product, which has decreased by 129 bps to 1.73 per cent. 

The bank has also removed the £250 cashback incentive from some of its mortgages, including two-year fixed residential purchase products at 80, 85 and 90 per cent LTV. 

These products also received reductions of up to 0.22 per cent.

A five-year fixed purchase product at 90 per cent LTV also had its cashback incentive removed, meanwhile the rate on the fee-free mortgage was reduced from 3.29 per cent to 3.07 per cent. 

For first-time buyers, rates for two and five-year fixes at 80 to 90 per cent LTV decreased by up to 0.19 per cent.

Changes come into effect from tomorrow.