NatWest to cut fixed rates but up B2L deals

NatWest Intermediary Solutions is tomorrow reducing selected fixed deals but upping some of its buy-to-let rates by up to 0.30 per cent.

At 80 per cent LTV, its two-year fixed rate is being reduced 0.24 per cent from 2.99 per cent to 2.75 per cent, and its three-year by 0.14 per cent from 3.19 to 3.05 per cent, both with a £995 fee.

The 85 per cent LTV option is now priced at 3.54, down from 3.75 per cent and carries the same fee.

NatWest has also made reductions on selected five-year mortgages. The 60 per cent LTV deal is down from 2.99 per cent to 2.88 per cent, while a no-fee option is now priced at 3.19 per cent – down 10 basis points.

The five-year fix up to 80 per cent LTV will be reduced 20 basis points to 3.59 per cent from 3.79.

In addition to the changes being made to the fixed residential range, NatWest Intermediary Solutions is also increasing rates on four of its buy-to-let purchase and remortgage deals.

A two-year fix up to 60 per cent LTV is being increased from 2.79 per cent to the new price of 2.99 per cent with a £1,995 product fee. The no-fee option is increasing 30 basis points from 3.79 per cent to 4.09.

The two-year tracker available to 60 per cent LTV is rising from 2.69 per cent to 2.89 with a £1,995 fee while the no-fee option is now priced at 3.99 per cent – up 30 basis points.

NatWest Intermediary Solutions head of sales Mark Bullard says: “It is nice to be able to end the year with news of some rate reductions. A couple of weeks ago we made cuts on our lower LTV residential products and now it’s the turn of some of our higher LTV and longer-term deals.

“On the buy-to-let front, although we are increasing the rates on some of our deals, I am happy to report that we have had a great response to the new buy-to-let criteria and increased proc fees that were introduced last month.

”We now have a broad range of buy-to-let deals giving brokers plenty of options with which to target the amateur landlord sector.”