NatWest offering 2.02% buy-to-let fix for mortgages up to £2 million
NatWest for Intermediaries is offering a leading 2.02% buy-to-let rate and it is fixed until 31 December 2017.
After the fixed rate the mortgage will revert to the lenders standard variable rate, which is currently 4.5%. The overall cost for comparison is 4.5% APR.
There is a £1,995 arrangement fee and the mortgage is available for property purchases and remortgages. NatWest recently increased its maximum loan size from £500,000 to £2 million.
Aaron Strutt, product manager at Trinity Financial, says: “NatWest is trying to increase its market share and it is offering some of the lowest buy-to-let rates and most generous maximum loan sizes in the market. They even have a two-year tracker below 1.75%.
“In order to qualify for the 2.02% fix borrowers will require a 40% deposit and agree to repay by the mortgage by their 70th birthday. The bank will now consider applications from customers who derive more than 30% of their income from rental properties."
For help to secure a leading buy-to-let mortgage call Trinity on 020 7016 0790.
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