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NatWest increases porftolio limit
16 January, 2008
As landlords look to grow their portfolios, they may well be cheered by the news that NatWest has doubled its buy-to-let property limit.
The lender is broadening the appeal of its buy-to-let proposition to landlords with larger portfolios by raising the maximum number of properties in a portfolio that it will accept from 5 to 10.
This move has been prompted by a hike in demand as landlords reveal plans to expand their ortfolios over the next five years, with the current average size of portfolio for NLA members standing at 9.4 properties.
Graham Felstead, head of corporate accounts at RBS Intermediary Partners, said the lender was keen to grow its buy-to-let presence: “For the last 18 months or so we have been establishing a firm foothold with brokers in this sector and now we feel the time is right to expand our offering. We have a strong portfolio of products for the intermediary market and they have proved to be very popular.
“In 2008 intermediaries can look forward to more innovations from our buy-to-let offer. We want NatWest to be one of their preferred lenders and will be working closely with them to ensure that we are delivering what they want.”