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TODAY'S OTHER NEWS

Buy-to-let mortgage rates driven lower

NatWest Intermediary Solutions is cutting rates on a number of its buy-to-let deals as rates across the market continue to slide lower.

New figures from UKMortgages show the lowest cost three-year buy-to-let tracker to 60% LTV falling from 3.25% to just 2.56% in the three months to July, a drop of 21%.

The lowest rate tracker to 60% LTV dropped for the first time in more than a year, from 3.95% to 3.39%, down 14%.

The figures also show that despite the threat of rising base rates, the lowest rate five-year fixed products at 60%, 70% and 80% LTV are all holding steady on three months ago at 3.29%, 3.69% and 4.45% respectively.

NatWest Intermediary Solutions is introducing rate cuts to a number of buy-to-let mortgages in its broker portfolio from today.

It is cutting rates by between 9-23 basis points (bps) on its two-year fixed, five-year fixed and two-year tracker rate buy-to-let deals.

Rates will decrease on a number of its residential 90% and 95% LTV deals, including a 46bps cut on its five-year fixed rate 95% LTV mortgage.

There are also a couple of very small rate increases on its two-year 70% LTV deals.

Paul Kane, acting head of sales, NatWest Intermediary Solutions said: “We continue to have a healthy appetite to grow our presence in the buy-to-let market and have been working hard alongside out broker partners to improve our proposition in this competitive sector.

“These rate changes should provide a good indicator of our intent to make further progress with buy-to-let business for the reminder of this year and into 2016.

Two-year fixed rate deals

£0 product fee:

75% LTV decreasing by 11bps from 3.75% to 3.64%

£1,995 product fee:

60% LTV decreasing by 22bps from 2.24% to 2.02%

70% LTV decreasing by 20bps from 2.75% to 2.55%

75% LTV decreasing by 20bps from 2.79% to 2.59%

Five-year fixed rate deals

£0 product fee:

60% LTV decreasing by 9bps from 3.88% to 3.79%

75% LTV decreasing by 20bps from 4.78% to 4.58%

£1,995 product fee:

60% LTV decreasing by 16bps from 3.49% to 3.33%

70% LTV decreasing by 23bps from 3.85% to 3.62%

75% LTV decreasing by 16bps from 3.99% to 3.83%

Two-year tracker deals

£0 product fee:

75% LTV decreasing by 11bps from 3.45% to 3.34%

£1,995 product fee:

60% LTV decreasing by 22bps from 1.95% to 1.73%

70% LTV decreasing by 20bps from 2.45% to 2.25%

75% LTV decreasing by 20bps from 2.49% to 2.29%

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