NatWest is making rate cuts to a number of buy-to-let products from tomorrow.
The biggest reduction is being made to its 70% loan-to-value 5-year fix which now stands at 3.08% with no product fee.
The lender will also make significant cuts to other product fee free products. Its 70% LTV 2-year fix will stand at 2.68%, its 75% LTV 2-year fix will cost 2.77%, its 60% LTV 5-year fix will be 2.98% and its 75% LTV 5-year fix will be 3.25%.
Mark Bullard, head of sales at NatWest, said: “Having declared our intent to continue to fully support the buy-to-let sector under the new PRA requirements, it’s timely that we are able to announce such significant cuts to both our rates and product fees on so many of our buy-to-let deals.
“We want to remain competitive in this sector and will continue to work with intermediary firms on developing our buy-to-let proposition which we will look to improve in the autumn.”
Nine of its buy-to-let deals have also seen product fees cut from £1,995 to £995.