NatWest reduces BTL rates

NatWest has cut rates on selected buy-to-let products.

The lender has reduced its semi exclusive five-year buy-to-let fixed rate remortgage deals by up to 0.31% on its semi exclusive five-year buy-to-let fixed rate remortgage deals.

Mark Bullard, head of sales at Natwest, said: “We have taken this opportunity to review our proposition to ensure it is in line with current market conditions.

“We are delighted to be introducing some significant rate reductions across our product portfolio, which we believe further emphasises our commitment to the broker market.”

For its remortgage range, there is a buy-to-let rate reduction of up to 0.5% across its two- and five-year buy-to-let products, purchase and remortgage.

NatWest recently lifted buy-to-let restrictions on housing benefit tenants.

The lender recently announced that it will no longer prevent buy-to-let landlords from letting property to tenants in receipt of benefits.

The move came after NatWest caved in to mounting industry pressure by lifting restrictions on buy-to-let landlords renting to DSS tenants.

In October last year, NatWest's lending practices came under attack after the bank told one landlord that she would either have to evict her tenant of two years or take her mortgage business elsewhere, after a blanket ban by the bank on benefit claimants.

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