Mortgages  

Natwest aims for further buy-to-let growth

Natwest aims for further buy-to-let growth

Natwest Intermediary Solutions has hit the mortgage market this week with 22 new deals across its buy-to-let range and a selection of lower loan-to-value residential deals.

From yesterday (9 April), the lender made buy-to-let deals reductions of between 10-55bps across its two, three and five-year fixed rate and two-year tracker products.

Paul Kane, acting head of sales at the firm, said they have made in-roads into the buy-to-let market since simplifying their rental calculation 18 months ago.

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“We have ambitions to continue our growth in buy-to-let by focusing on the smaller portfolio/non-professional landlord sector. These rate reductions should give intermediaries more attractive options to discuss with their landlord customers.”

Elsewhere in the mortgage market, Leeds Building Society unveiled a new 10-year deal with a rate of 3.64 per cent, available up to 80% LTV and permitting overpayments of up to 10 per cent each year without penalty.

Martin Richardson, LBS’ general manager for business development, commented that fixing repayments gives peace of mind and makes it easier to budget for other household bills.

“We know 10-year fixed rate mortgages won’t suit everyone but this choice is part of our range of fixed rate deals including two, three and five year terms too, so borrowers can choose the length of time that suits them best.”

Amongst the other deals on offer after the bank holiday, Coventry Intermediaries launched a range of fee free options for residential borrowers looking at two, three and five-year fixed rates.

Darin Landon, their distribution director, explained: “Available at 65 per cent LTV, our new range is ideal for borrowers looking for the security of a low, fixed rate, whilst keeping their initial costs down.”

To complete the rates round-up, here are all the publicly announced deals this week:

LenderLTV/typeHeadline rateProduct fee
Natwest60%/2-year fixed2.25% (BTL)£1,995
Natwest60%/2-year fixed3.44% (BTL)£0
Natwest60%/3-year fixed3.15% (BTL)£1,995
Natwest60%/3-year fixed3.93% (BTL)£0
Natwest60%/5-year fixed3.61% (BTL)£1,995
Natwest60%/5-year fixed4.05% (BTL)£0
Natwest60%/2-year tracker1.95% (BTL)£1,995
Natwest60%/2-year tracker3.14% (BTL)£0
Natwest60%/2-year fixed1.45% £995
Natwest60%/3-year fixed2.04%£995
Natwest60%/2-year tracker1.35% £995
Yorkshire Building Society65%/3-year fixed1.99%£345
Coventry Intermediaries65%/2-year fixed1.99%
Coventry Intermediaries65%/3-year fixed2.29%
Coventry Intermediaries65%/5-year fixed2.65%
Accord Mortgages65%/3-year fixed2.09%£845
Natwest70%/2-year fixed1.69%£995
Natwest70%/3-year fixed2.25%£995
Natwest70%/5-year fixed2.65% £995
Natwest70%/2-year tracker1.59%£995
Yorkshire Building Society75%/3-year fixed2.24%£345
Accord Mortgages75%/3-year fixed2.29%£345
Natwest75%/2-year fixed3.04% (BTL)£1,995
Natwest75%/3-year fixed3.41% (BTL)£1,995
Natwest75%/5-year fixed4.13% (BTL)£1,995
Natwest75%/2-year tracker2.74% (BTL)£1,995
Natwest75%/2-year fixed1.79%£995
Natwest75%/3-year fixed2.50%£995
Natwest75%/5-year fixed2.78%£995
Accord Mortgages80%/3-year fixed2.54%£845
Leeds Building Society80%/10-year fixed3.64%

peter.walker@ft.com