NatWest set to offer new buy to let mortgages

NatWest, the buy to let lender for RBS Intermediary Partners, has announced plans to introduce three fixed rate buy to let mortgages on Monday December 10th.

The two year deals include free standard legal fees and valuation, with one aimed towards new purchases and the other for re-mortgages, while a five year product has also been put on the market.

Both the short-term deals offer an initial interest rate of 6.99 per cent until January 31st, 2010, with the longer-term option providing borrowers with a rate of 5.65 per cent until January 31st, 2013.

Graham Felstead, head of corporate accounts for RBS Intermediary Partners, said: "We are very keen to grow our presence in the buy-to-let market so have introduced these two new 'no fees' products specifically to help landlords to enter the market or to expand their portfolios by keeping the initial set up costs down."

"And, for those who want longer term stability for their portfolio's monthly repayments the newfive year fixed rate product offers them a very attractive rate," he added.

NatWest currently offers a range of buy to let mortgages, including a three year base rate tracker at 6.99 per cent and a standard variable rate product at 8.44 per cent.

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