Buy To Let Date:
NatWest has reduced selected buy-to-let mortgage rates by up to 0.55%. One of the deals to receive a 0.50% reduction is the two-year fixed rate deal, which has assumed a market-leading position as a result.
This deal now has a highly competitive rate of 2.25% fixed until 30.9.17, enabling it to sit at the very top of its sector. It is available at a loan-to-value (LTV) 60% and has a fee of £1,995.
This mortgage is available to first-time buyers, second-time buyers and remortgagors with a 40% deposit. Those looking to remortgage their property can benefit from an incentive package of free valuation and free legal fees.
Borrowers have the option to make overpayments of up to 10% of the outstanding balance, which gives a welcome degree of repayment flexibility.
This mortgage is also available from Royal Bank of Scotland (RBS).
This latest rate reduction has sent this deal soaring to the top of its sector, something that will undoubtedly capture the attention of landlords on the hunt for a competitive deal. Remortgagors in particular will benefit from the generous incentive package, while all borrowers can profit from the welcome flexibility of the repayment options.
Moneyfacts rating: Excellent
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