Buy To Let Date:
NatWest has reduced the majority of its buy-to-let mortgage rates, with its two-year deal benefiting from a 0.25% cut. As a result, it has acquired a coveted spot on the Moneyfacts charts for its competitive rate and terms.
This mortgage now has a rate of 2.79% fixed until 30.9.17 at a loan-to-value (LTV) of 75%. This makes it the lowest rate currently available at this lending level. A fee of £1,995 is payable.
This deal is open to all borrowers, including first-time buyers, with the necessary deposit of 25%. Those looking to remortgage their rental property can benefit from an incentive package of free legal fees and free valuation, while all borrowers can profit from the option to make overpayments of up to 10% of the outstanding balance every year.
This mortgage is also available from Royal Bank of Scotland.
The rate cut to this mortgage has sent it surging into the charts, something that is sure to garner interest among landlords. Its highly competitive rate, combined with the option to make overpayments and generous incentives for remortgagors, makes this a flexible offering that is sure to appeal to those with the right deposit.
Moneyfacts rating: Excellent
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