Natwest announce 'significant' reductions on BTL products

Natwest announce 'significant' reductions on BTL products

NatWest has announced that it will introduce several three figure rate reductions on its core range BTL deals as well as cutting the product fees by £1,000 on several buy-to-let mortgages.

The lender also confirmed that it will also make rate reductions on two 95% LTV residential deals.

The biggest rate reduction is on its 5 year fixed rate, 70% LTV, £0 product fee, buy-to-let purchase mortgage that is being reduced by 156bps to 3.08%. Other three figure reductions include the 2 year fixed rate, 70% LTV, £0 product fee, purchase mortgage that’s reducing by 110 bps to 2.68%.

The 2 year fixed rate, 75% LTV, £0 product fee, purchase mortgage is reducing by 107bps to 2.77%; the 5 year fixed rate, 60% LTV, £0 product fee, purchase mortgage is reducing by 101bps to 2.98%; the 5 year fixed rate, 75% LTV, £0 product fee, is reducing by 153bps to 3.25%; and the 5 year fixed rate remortgage, 75% LTV, reducing by 100bps to 2.98% and having its fee reduced to £995.

In all, nine of its buy-to-let deals will see product fees cut from £1,995 to £995.

Mark Bullard, Head of Sales, commented, “Having declared our intent to continue to fully support the buy-to-let sector under the new PRA requirements, it’s timely that we are able to announce such significant cuts to both our rates and product fees on so many of our buy-to-let deals. We want to remain competitive in this sector and will continue to work with intermediary firms on developing our buy-to-let proposition which we will look to improve in the autumn.”

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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